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Multifamily Loans in
Quincy, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Quincy, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Quincy 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
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 3.15% - 3.40%
7 Year Fixed 3.35% - 3.80%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Quincy 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 02, 2021


Multifamily Lenders in Quincy, IL

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


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 02, 2021


Quincy Market

The city of Quincy in Adams County has a population of 39,949. The median rent in Adams County for a 2 bedroom is $839. The median Quincy resident is 41 years old with a yearly income of $28,756. The average family has 2.92 members and a median household income of $46,189. Quincy has a 24% higher education rate. The unemployment rate in Quincy is 5.3%.


Population
39,949 people

County
Adams County

Renters

35.7% of Quincy households are renters.


Rent Burden

29.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Adams County 1
Illinois 2
National 2
Studio $606 $599 $737
1 bedroom $654 $669 $813
2 bedroom $839 $840 $1,015
3 bedroom $1,113 $1,100 $1,325
4 bedroom $1,159 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Quincy Demographics


Median Individual Income
$28,756 / year

Median Household Income
$46,189 / year

Families w/ Dual Incomes
53%

Unemployment Rate
5.3%
Household Income Distribution
Quincy, IL

Median Age
41 years

Avg Family Size
2.92 people
Age Distribution
Quincy, IL

College Education or Above
24%

STEM College Graduates
35%
Education Distribution
Quincy, IL
Source: U.S. Census Bureau

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