Loading...

Multifamily Loans in
Melrose, MA

Overview

Melrose is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Melrose are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Melrose are some of the lowest nationally. Melrose 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 Melrose.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Melrose, MA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Melrose 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 Melrose 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 Melrose, MA

All major multifamily lender types are lending in Melrose.


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


Melrose Market

The city of Melrose in Middlesex County has a population of 28,016. The median rent in Middlesex County for a 2 bedroom is $2,470. The median Melrose resident is 41 years old with a yearly income of $53,709. The average family has 3.15 members and a median household income of $106,955. Melrose has a 62% higher education rate. The unemployment rate in Melrose is 2.8%.


Population
28,016 people

County
Middlesex County

Renters

34.2% of Melrose households are renters.


Rent Burden

35% 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

Melrose Demographics


Median Individual Income
$53,709 / year

Median Household Income
$106,955 / year

Families w/ Dual Incomes
69%

Unemployment Rate
2.8%
Household Income Distribution
Melrose, MA

Median Age
41 years

Avg Family Size
3.15 people
Age Distribution
Melrose, MA

College Education or Above
62%

STEM College Graduates
49%
Education Distribution
Melrose, MA
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day