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Multifamily Loans in
Milford City , CT

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Milford City , CT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Milford City 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Milford City 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 04, 2021


Multifamily Lenders in Milford City , CT

All major multifamily lender types are lending in Milford City .


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 04, 2021


Milford City Market

The city of Milford City in New Haven County has a population of 53,195. The median rent in New Haven County for a 2 bedroom is $1,546. The median Milford City resident is 46 years old with a yearly income of $46,359. The average family has 3.04 members and a median household income of $91,783. Milford City has a 43% higher education rate. The unemployment rate in Milford City is 4.8%.


Population
53,195 people

County
New Haven County

Renters

25.6% of Milford City households are renters.


Rent Burden

29.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
New Haven County 1
Connecticut 2
National 2
Studio $1,020 $974 $737
1 bedroom $1,279 $1,155 $813
2 bedroom $1,546 $1,442 $1,015
3 bedroom $1,923 $1,820 $1,325
4 bedroom $2,526 $2,144 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Milford City Demographics


Median Individual Income
$46,359 / year

Median Household Income
$91,783 / year

Families w/ Dual Incomes
61%

Unemployment Rate
4.8%
Household Income Distribution
Milford City , CT

Median Age
46 years

Avg Family Size
3.04 people
Age Distribution
Milford City , CT

College Education or Above
43%

STEM College Graduates
46%
Education Distribution
Milford City , CT
Source: U.S. Census Bureau

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