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Multifamily Loans in
Simsbury, CT

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Simsbury, CT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Simsbury 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
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 Simsbury 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 Simsbury, CT

All major multifamily lender types are lending in Simsbury.


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 04, 2021


Simsbury Market

The city of Simsbury in Hartford County has a population of 24,799. The median rent in Hartford County for a 2 bedroom is $1,437. The median Simsbury resident is 45 years old with a yearly income of $54,712. The average family has 3.05 members and a median household income of $123,905. Simsbury has a 65% higher education rate. The unemployment rate in Simsbury is 3.8%.


Population
24,799 people

County
Hartford County

Renters

20.8% of Simsbury households are renters.


Rent Burden

24.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hartford County 1
Connecticut 2
National 2
Studio $948 $974 $737
1 bedroom $1,164 $1,155 $813
2 bedroom $1,437 $1,442 $1,015
3 bedroom $1,787 $1,820 $1,325
4 bedroom $2,089 $2,144 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Simsbury Demographics


Median Individual Income
$54,712 / year

Median Household Income
$123,905 / year

Families w/ Dual Incomes
65%

Unemployment Rate
3.8%
Household Income Distribution
Simsbury, CT

Median Age
45 years

Avg Family Size
3.05 people
Age Distribution
Simsbury, CT

College Education or Above
65%

STEM College Graduates
45%
Education Distribution
Simsbury, CT
Source: U.S. Census Bureau

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