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Multifamily Loans in
Schaumburg, IL

Overview

Schaumburg is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Schaumburg are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Schaumburg are some of the lowest nationally. Schaumburg 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 Schaumburg.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Schaumburg, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Schaumburg 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 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
10 Year Fixed 3.38% - 3.62%
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 3.19% - 3.44%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.39% - 3.79%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/25/2021. This is not an offer or commitment to lend. Multifamily loan rates in Schaumburg 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 Nov 26, 2021


Multifamily Lenders in Schaumburg, IL

All major multifamily lender types are lending in Schaumburg.


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 Nov 26, 2021


Schaumburg Market

The city of Schaumburg in Cook County has a population of 72,887. The median rent in Cook County for a 2 bedroom is $1,417. The median Schaumburg resident is 39 years old with a yearly income of $44,066. The average family has 3.2 members and a median household income of $83,096. Schaumburg has a 49% higher education rate. The unemployment rate in Schaumburg is 3.8%.


Population
72,887 people

County
Cook County

Renters

36.3% of Schaumburg households are renters.


Rent Burden

24% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cook 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

Schaumburg Demographics


Median Individual Income
$44,066 / year

Median Household Income
$83,096 / year

Families w/ Dual Incomes
58%

Unemployment Rate
3.8%
Household Income Distribution
Schaumburg, IL

Median Age
39 years

Avg Family Size
3.2 people
Age Distribution
Schaumburg, IL

College Education or Above
49%

STEM College Graduates
51%
Education Distribution
Schaumburg, IL
Source: U.S. Census Bureau

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