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Multifamily Loans in
Mchenry, IL

Overview

Mchenry is located in a good market for 5+ unit multifamily loans. Multifamily loans in Mchenry are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Mchenry are competitive. Mchenry 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 Mchenry.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Mchenry, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mchenry 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 $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.25% - 3.49%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Mchenry 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 Dec 02, 2021


Multifamily Lenders in Mchenry, IL

All major multifamily lender types are lending in Mchenry.


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 Dec 02, 2021


Mchenry Market

The city of Mchenry in McHenry County has a population of 27,061. The median rent in McHenry County for a 2 bedroom is $1,417. The median Mchenry resident is 40 years old with a yearly income of $35,221. The average family has 3.16 members and a median household income of $75,811. Mchenry has a 28% higher education rate. The unemployment rate in Mchenry is 3.9%.


Population
27,061 people

County
McHenry County

Renters

28.6% of Mchenry households are renters.


Rent Burden

39.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
McHenry County 1
Illinois 2
National 2
Studio $1,104 $599 $737
1 bedroom $1,224 $669 $813
2 bedroom $1,417 $840 $1,015
3 bedroom $1,799 $1,100 $1,325
4 bedroom $2,147 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Mchenry Demographics


Median Individual Income
$35,221 / year

Median Household Income
$75,811 / year

Families w/ Dual Incomes
64%

Unemployment Rate
3.9%
Household Income Distribution
Mchenry, IL

Median Age
40 years

Avg Family Size
3.16 people
Age Distribution
Mchenry, IL

College Education or Above
28%

STEM College Graduates
36%
Education Distribution
Mchenry, IL
Source: U.S. Census Bureau

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