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Multifamily Loans in
Wellesley, MA

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Wellesley, MA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wellesley are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
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 Wellesley 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 Wellesley, MA

All major multifamily lender types are lending in Wellesley.


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


Wellesley Market

The city of Wellesley in Norfolk County has a population of 28,747. The median rent in Norfolk County for a 2 bedroom is $2,470. The median Wellesley resident is 36 years old with a yearly income of $52,816. The average family has 3.25 members and a median household income of $197,132. Wellesley has a 84% higher education rate. The unemployment rate in Wellesley is 4.6%.


Population
28,747 people

County
Norfolk County

Renters

19.1% of Wellesley households are renters.


Rent Burden

27.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Norfolk County 1
Massachusetts 2
National 2
Studio $1,842 $1,259 $737
1 bedroom $2,034 $1,399 $813
2 bedroom $2,470 $1,747 $1,015
3 bedroom $3,072 $2,190 $1,325
4 bedroom $3,349 $2,423 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wellesley Demographics


Median Individual Income
$52,816 / year

Median Household Income
$197,132 / year

Families w/ Dual Incomes
56%

Unemployment Rate
4.6%
Household Income Distribution
Wellesley, MA

Median Age
36 years

Avg Family Size
3.25 people
Age Distribution
Wellesley, MA

College Education or Above
84%

STEM College Graduates
55%
Education Distribution
Wellesley, MA
Source: U.S. Census Bureau

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