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Multifamily Loans in
Middletown, DE

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Overview

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

For 2-4 unit multifamily loans in Middletown, 2021 conforming loan limits are $702,000 for a duplex, $848,500 for a triplex and $1,054,500 for a fourplex.

Get multifamily loan quotes for Oct 15, 2021


Multifamily Loan Rates in Middletown, DE

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Middletown 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 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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 2.82% - 3.07%
7 Year Fixed 3.15% - 3.60%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 10/14/2021. This is not an offer or commitment to lend. Multifamily loan rates in Middletown 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 Oct 15, 2021


Multifamily Lenders in Middletown, DE

All major multifamily lender types are lending in Middletown.


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 Oct 15, 2021


Middletown Market

The city of Middletown in New Castle County has a population of 22,900. The median rent in New Castle County for a 2 bedroom is $1,358. The median Middletown resident is 39 years old with a yearly income of $42,494. The average family has 3.37 members and a median household income of $90,134. Middletown has a 40% higher education rate. The unemployment rate in Middletown is 7.0%.


Population
22,900 people

County
New Castle County

Renters

21% of Middletown households are renters.


Rent Burden

25.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
New Castle County 1
Delaware 2
National 2
Studio $970 $868 $737
1 bedroom $1,121 $963 $813
2 bedroom $1,358 $1,182 $1,015
3 bedroom $1,689 $1,580 $1,325
4 bedroom $1,935 $1,827 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Middletown Demographics


Median Individual Income
$42,494 / year

Median Household Income
$90,134 / year

Families w/ Dual Incomes
52%

Unemployment Rate
7.0%
Household Income Distribution
Middletown, DE

Median Age
39 years

Avg Family Size
3.37 people
Age Distribution
Middletown, DE

College Education or Above
40%

STEM College Graduates
43%
Education Distribution
Middletown, DE
Source: U.S. Census Bureau

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