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Multifamily Loans in Maine

Overview

87,857 (or 6.54%) of the 1,344,212 population of Maine live in 5+ unit apartment properties. Maine has approximately 61,609 multifamily units. Last year, 853 new apartment units were constructed in Maine, representing a 1.4% growth in units. Multifamily units make up 9.11% of the total housing stock in Maine.

Interest rates for multifamily loans in Maine are very competitive. Maine apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Maine.

Get multifamily loan quotes for Jun 21, 2024


Multifamily Loan Rates in Maine

SoftQuotes' lender rates for 5+ unit multifamily loans in Maine are:

Loan Amount
$1M to $6M
5 Year Fixed 6.07% - 6.57%
7 Year Fixed 6.13% - 6.28%
10 Year Fixed 5.99% - 6.22%
Loan Amount
$6M to $100M
5 Year Fixed 5.75% - 6.25%
7 Year Fixed 5.72% - 6.22%
10 Year Fixed 5.64% - 6.14%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. This is not an offer or commitment to lend. Rates updated on 06/20/2024.

Get multifamily loan quotes for Jun 21, 2024


Maine Rents

The state of Maine has no rent control or preemptions.

Bedrooms
Low1
High2
Average2
Studio $494 $1,147 $700
1 bedroom $628 $1,295 $761
2 bedroom $748 $1,678 $956
3 bedroom $1,030 $2,172 $1,232
4 bedroom $1,096 $2,730 $1,424
1 County median 2 Average of counties
Source: Federal Housing Finance Agency