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Multifamily Loans in
Mundelein, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Mundelein, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mundelein 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 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
10 Year Fixed 3.38% - 3.62%
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 3.00% - 3.25%
7 Year Fixed 3.20% - 3.65%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Mundelein 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 02, 2021


Multifamily Lenders in Mundelein, IL

All major multifamily lender types are lending in Mundelein.


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 02, 2021


Mundelein Market

The city of Mundelein in Lake County has a population of 31,051. The median rent in Lake County for a 2 bedroom is $1,417. The median Mundelein resident is 37 years old with a yearly income of $40,792. The average family has 3.36 members and a median household income of $93,027. Mundelein has a 43% higher education rate. The unemployment rate in Mundelein is 3.5%.


Population
31,051 people

County
Lake County

Renters

25.6% of Mundelein households are renters.


Rent Burden

23.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lake County 1
Illinois 2
National 2
Studio $1,104 $599 $737
1 bedroom $1,224 $669 $813
2 bedroom $1,417 $840 $1,015
3 bedroom $1,799 $1,100 $1,325
4 bedroom $2,147 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Mundelein Demographics


Median Individual Income
$40,792 / year

Median Household Income
$93,027 / year

Families w/ Dual Incomes
65%

Unemployment Rate
3.5%
Household Income Distribution
Mundelein, IL

Median Age
37 years

Avg Family Size
3.36 people
Age Distribution
Mundelein, IL

College Education or Above
43%

STEM College Graduates
46%
Education Distribution
Mundelein, IL
Source: U.S. Census Bureau

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