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Multifamily Loans in
North Kingstown, RI

Overview

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

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in North Kingstown, RI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Kingstown are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.19%
7 Year Fixed 3.42% - 4.00%
10 Year Fixed 3.46% - 3.95%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.34% - 3.58%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.64% - 3.88%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.24% - 3.74%
7 Year Fixed 3.12% - 3.70%
10 Year Fixed 3.16% - 3.65%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.51% - 4.01%
7 Year Fixed 3.64% - 4.34%
10 Year Fixed 3.58% - 4.23%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 01/28/2022. This is not an offer or commitment to lend. Multifamily loan rates in North Kingstown 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 Jan 29, 2022


Multifamily Lenders in North Kingstown, RI

All major multifamily lender types are lending in North Kingstown.


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 Jan 29, 2022


North Kingstown Market

The city of North Kingstown in Washington County has a population of 26,235. The median rent in Washington County for a 2 bedroom is $1,239. The median North Kingstown resident is 45 years old with a yearly income of $43,738. The average family has 3 members and a median household income of $91,796. North Kingstown has a 51% higher education rate. The unemployment rate in North Kingstown is 4.4%.


Population
26,235 people

County
Washington County

Renters

23.8% of North Kingstown households are renters.


Rent Burden

35.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Washington County 1
Rhode Island 2
National 2
Studio $915 $936 $737
1 bedroom $1,030 $1,044 $813
2 bedroom $1,239 $1,270 $1,015
3 bedroom $1,541 $1,615 $1,325
4 bedroom $1,850 $1,932 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

North Kingstown Demographics


Median Individual Income
$43,738 / year

Median Household Income
$91,796 / year

Families w/ Dual Incomes
58%

Unemployment Rate
4.4%
Household Income Distribution
North Kingstown, RI

Median Age
45 years

Avg Family Size
3 people
Age Distribution
North Kingstown, RI

College Education or Above
51%

STEM College Graduates
48%
Education Distribution
North Kingstown, RI
Source: U.S. Census Bureau

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