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Multifamily Loans in
Norwood, MA

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Norwood, MA

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

All major multifamily lender types are lending in Norwood.


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


Norwood Market

The city of Norwood in Norfolk County has a population of 29,306. The median rent in Norfolk County for a 2 bedroom is $2,470. The median Norwood resident is 41 years old with a yearly income of $44,705. The average family has 3.06 members and a median household income of $90,133. Norwood has a 47% higher education rate. The unemployment rate in Norwood is 3.0%.


Population
29,306 people

County
Norfolk County

Renters

42.5% of Norwood households are renters.


Rent Burden

29.3% 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

Norwood Demographics


Median Individual Income
$44,705 / year

Median Household Income
$90,133 / year

Families w/ Dual Incomes
66%

Unemployment Rate
3.0%
Household Income Distribution
Norwood, MA

Median Age
41 years

Avg Family Size
3.06 people
Age Distribution
Norwood, MA

College Education or Above
47%

STEM College Graduates
48%
Education Distribution
Norwood, MA
Source: U.S. Census Bureau

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