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Multifamily Loans in
Romeoville, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Romeoville, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Romeoville 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 3.37% - 3.61%
7 Year Fixed 3.25% - 3.49%
10 Year Fixed 3.47% - 3.71%
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 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
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 Romeoville 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 Romeoville, IL

All major multifamily lender types are lending in Romeoville.


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 02, 2021


Romeoville Market

The city of Romeoville in Will County has a population of 39,746. The median rent in Will County for a 2 bedroom is $1,417. The median Romeoville resident is 35 years old with a yearly income of $32,019. The average family has 4.02 members and a median household income of $79,183. Romeoville has a 23% higher education rate. The unemployment rate in Romeoville is 4.4%.


Population
39,746 people

County
Will County

Renters

17.4% of Romeoville households are renters.


Rent Burden

31% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Will County 1
Illinois 2
National 2
Studio $1,104 $599 $737
1 bedroom $1,224 $669 $813
2 bedroom $1,417 $840 $1,015
3 bedroom $1,799 $1,100 $1,325
4 bedroom $2,147 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Romeoville Demographics


Median Individual Income
$32,019 / year

Median Household Income
$79,183 / year

Families w/ Dual Incomes
65%

Unemployment Rate
4.4%
Household Income Distribution
Romeoville, IL

Median Age
35 years

Avg Family Size
4.02 people
Age Distribution
Romeoville, IL

College Education or Above
23%

STEM College Graduates
45%
Education Distribution
Romeoville, IL
Source: U.S. Census Bureau

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