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Multifamily Loans in
Portland, ME

Overview

Portland is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Portland are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Portland are slightly higher than the national average. Portland apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Portland.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Portland, ME

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Portland 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 $6M
5 Year Fixed 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
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®
$6M to $100M
5 Year Fixed 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Portland 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 04, 2021


Multifamily Lenders in Portland, ME

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Portland.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Portland Market

The city of Portland in Cumberland County has a population of 66,215. The median rent in Cumberland County for a 2 bedroom is $1,678. The median Portland resident is 37 years old with a yearly income of $33,470. The average family has 2.9 members and a median household income of $60,467. Portland has a 53% higher education rate. The unemployment rate in Portland is 2.8%.


Population
66,215 people

County
Cumberland County

Renters

54.9% of Portland households are renters.


Rent Burden

33.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cumberland County 1
Maine 2
National 2
Studio $1,147 $700 $737
1 bedroom $1,295 $761 $813
2 bedroom $1,678 $956 $1,015
3 bedroom $2,172 $1,232 $1,325
4 bedroom $2,654 $1,424 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Portland Demographics


Median Individual Income
$33,470 / year

Median Household Income
$60,467 / year

Families w/ Dual Incomes
62%

Unemployment Rate
2.8%
Household Income Distribution
Portland, ME

Median Age
37 years

Avg Family Size
2.9 people
Age Distribution
Portland, ME

College Education or Above
53%

STEM College Graduates
45%
Education Distribution
Portland, ME
Source: U.S. Census Bureau

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