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Multifamily Loans in
Machesney Park, IL

Overview

Machesney Park is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Machesney Park are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Machesney Park are slightly higher than the national average. Machesney Park apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Machesney Park.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Machesney Park, IL

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

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.51% - 3.75%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.29% - 3.54%
7 Year Fixed 3.53% - 3.98%
10 Year Fixed 3.49% - 3.89%
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 Machesney Park 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 Machesney Park, IL

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Machesney Park.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Nov 26, 2021


Machesney Park Market

The city of Machesney Park in Winnebago County has a population of 22,677. The median rent in Winnebago County for a 2 bedroom is $859. The median Machesney Park resident is 41 years old with a yearly income of $30,951. The average family has 2.95 members and a median household income of $63,662. Machesney Park has a 15% higher education rate. The unemployment rate in Machesney Park is 5.7%.


Population
22,677 people

County
Winnebago County

Renters

22.1% of Machesney Park households are renters.


Rent Burden

21.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Winnebago County 1
Illinois 2
National 2
Studio $567 $599 $737
1 bedroom $652 $669 $813
2 bedroom $859 $840 $1,015
3 bedroom $1,166 $1,100 $1,325
4 bedroom $1,266 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Machesney Park Demographics


Median Individual Income
$30,951 / year

Median Household Income
$63,662 / year

Families w/ Dual Incomes
54%

Unemployment Rate
5.7%
Household Income Distribution
Machesney Park, IL

Median Age
41 years

Avg Family Size
2.95 people
Age Distribution
Machesney Park, IL

College Education or Above
15%

STEM College Graduates
41%
Education Distribution
Machesney Park, IL
Source: U.S. Census Bureau

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