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Multifamily Loans in
Pawtucket, RI

Overview

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

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in Pawtucket, RI

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

All major multifamily lender types are lending in Pawtucket.


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


Pawtucket Market

The city of Pawtucket in Providence County has a population of 72,117. The median rent in Providence County for a 2 bedroom is $1,239. The median Pawtucket resident is 38 years old with a yearly income of $28,049. The average family has 3.23 members and a median household income of $50,476. Pawtucket has a 22% higher education rate. The unemployment rate in Pawtucket is 7.1%.


Population
72,117 people

County
Providence County

Renters

54.9% of Pawtucket households are renters.


Rent Burden

32.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Providence 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

Pawtucket Demographics


Median Individual Income
$28,049 / year

Median Household Income
$50,476 / year

Families w/ Dual Incomes
51%

Unemployment Rate
7.1%
Household Income Distribution
Pawtucket, RI

Median Age
38 years

Avg Family Size
3.23 people
Age Distribution
Pawtucket, RI

College Education or Above
22%

STEM College Graduates
41%
Education Distribution
Pawtucket, RI
Source: U.S. Census Bureau

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