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Multifamily Loans in
West Chester, PA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in West Chester, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in West Chester 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in West Chester 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 08, 2021


Multifamily Lenders in West Chester, PA

All major multifamily lender types are lending in West Chester.


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 08, 2021


West Chester Market

The city of West Chester in Chester County has a population of 20,029. The median rent in Chester County for a 2 bedroom is $1,358. The median West Chester resident is 25 years old with a yearly income of $21,776. The average family has 2.91 members and a median household income of $61,837. West Chester has a 58% higher education rate. The unemployment rate in West Chester is 5.3%.


Population
20,029 people

County
Chester County

Renters

64.3% of West Chester households are renters.


Rent Burden

33.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Chester County 1
Pennsylvania 2
National 2
Studio $970 $680 $737
1 bedroom $1,121 $747 $813
2 bedroom $1,358 $929 $1,015
3 bedroom $1,689 $1,198 $1,325
4 bedroom $1,935 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

West Chester Demographics


Median Individual Income
$21,776 / year

Median Household Income
$61,837 / year

Families w/ Dual Incomes
62%

Unemployment Rate
5.3%
Household Income Distribution
West Chester, PA

Median Age
25 years

Avg Family Size
2.91 people
Age Distribution
West Chester, PA

College Education or Above
58%

STEM College Graduates
41%
Education Distribution
West Chester, PA
Source: U.S. Census Bureau

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