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Multifamily Loans in
Lowell, MA

Overview

Lowell is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Lowell are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Lowell are some of the lowest nationally. Lowell apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Lowell.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Lowell, MA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lowell are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.19% - 3.44%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.39% - 3.79%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/25/2021. This is not an offer or commitment to lend. Multifamily loan rates in Lowell may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Lenders in Lowell, MA

All major multifamily lender types are lending in Lowell.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Nov 26, 2021


Lowell Market

The city of Lowell in Middlesex County has a population of 110,997. The median rent in Middlesex County for a 2 bedroom is $2,470. The median Lowell resident is 34 years old with a yearly income of $27,798. The average family has 3.35 members and a median household income of $56,878. Lowell has a 24% higher education rate. The unemployment rate in Lowell is 5.8%.


Population
110,997 people

County
Middlesex County

Renters

57.7% of Lowell households are renters.


Rent Burden

36.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Middlesex County 1
Massachusetts 2
National 2
Studio $1,842 $1,259 $737
1 bedroom $2,034 $1,399 $813
2 bedroom $2,470 $1,747 $1,015
3 bedroom $3,072 $2,190 $1,325
4 bedroom $3,349 $2,423 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lowell Demographics


Median Individual Income
$27,798 / year

Median Household Income
$56,878 / year

Families w/ Dual Incomes
54%

Unemployment Rate
5.8%
Household Income Distribution
Lowell, MA

Median Age
34 years

Avg Family Size
3.35 people
Age Distribution
Lowell, MA

College Education or Above
24%

STEM College Graduates
48%
Education Distribution
Lowell, MA
Source: U.S. Census Bureau

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