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Multifamily Loans in
Methuen Town, MA

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Methuen Town, MA

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

All major multifamily lender types are lending in Methuen Town.


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


Methuen Town Market

The city of Methuen Town in Essex County has a population of 50,706. The median rent in Essex County for a 2 bedroom is $2,470. The median Methuen Town resident is 41 years old with a yearly income of $33,274. The average family has 3.26 members and a median household income of $77,484. Methuen Town has a 28% higher education rate. The unemployment rate in Methuen Town is 6.0%.


Population
50,706 people

County
Essex County

Renters

28.2% of Methuen Town households are renters.


Rent Burden

39.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Essex 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

Methuen Town Demographics


Median Individual Income
$33,274 / year

Median Household Income
$77,484 / year

Families w/ Dual Incomes
64%

Unemployment Rate
6.0%
Household Income Distribution
Methuen Town, MA

Median Age
41 years

Avg Family Size
3.26 people
Age Distribution
Methuen Town, MA

College Education or Above
28%

STEM College Graduates
42%
Education Distribution
Methuen Town, MA
Source: U.S. Census Bureau

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