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Multifamily Loans in
Philadelphia, PA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Philadelphia, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Philadelphia 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 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Philadelphia 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 08, 2021


Multifamily Lenders in Philadelphia, PA

All major multifamily lender types are lending in Philadelphia.


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 08, 2021


Philadelphia Market

The city of Philadelphia in Philadelphia County has a population of 1,584,060. The median rent in Philadelphia County for a 2 bedroom is $1,358. The median Philadelphia resident is 34 years old with a yearly income of $26,211. The average family has 3.46 members and a median household income of $45,927. Philadelphia has a 30% higher education rate. The unemployment rate in Philadelphia is 9.2%.


Population
1,584,060 people

County
Philadelphia County

Renters

47% of Philadelphia households are renters.


Rent Burden

37.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Philadelphia County 1
Pennsylvania 2
National 2
Studio $970 $680 $737
1 bedroom $1,121 $747 $813
2 bedroom $1,358 $929 $1,015
3 bedroom $1,689 $1,198 $1,325
4 bedroom $1,935 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Philadelphia Demographics


Median Individual Income
$26,211 / year

Median Household Income
$45,927 / year

Families w/ Dual Incomes
46%

Unemployment Rate
9.2%
Household Income Distribution
Philadelphia, PA

Median Age
34 years

Avg Family Size
3.46 people
Age Distribution
Philadelphia, PA

College Education or Above
30%

STEM College Graduates
45%
Education Distribution
Philadelphia, PA
Source: U.S. Census Bureau

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