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Multifamily Loans in
Needham, MA

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Needham, MA

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

All major multifamily lender types are lending in Needham.


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


Needham Market

The city of Needham in Norfolk County has a population of 30,970. The median rent in Norfolk County for a 2 bedroom is $2,470. The median Needham resident is 44 years old with a yearly income of $63,330. The average family has 3.23 members and a median household income of $165,547. Needham has a 76% higher education rate. The unemployment rate in Needham is 4.0%.


Population
30,970 people

County
Norfolk County

Renters

16.1% of Needham households are renters.


Rent Burden

42.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Norfolk 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

Needham Demographics


Median Individual Income
$63,330 / year

Median Household Income
$165,547 / year

Families w/ Dual Incomes
68%

Unemployment Rate
4.0%
Household Income Distribution
Needham, MA

Median Age
44 years

Avg Family Size
3.23 people
Age Distribution
Needham, MA

College Education or Above
76%

STEM College Graduates
52%
Education Distribution
Needham, MA
Source: U.S. Census Bureau

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