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Multifamily Loans in
Westfield, IN

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Westfield, IN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Westfield 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 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
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 Westfield 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 Westfield, IN

All major multifamily lender types are lending in Westfield.


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


Westfield Market

The city of Westfield in Hamilton County has a population of 43,649. The median rent in Hamilton County for a 2 bedroom is $1,007. The median Westfield resident is 35 years old with a yearly income of $44,630. The average family has 3.13 members and a median household income of $98,376. Westfield has a 59% higher education rate. The unemployment rate in Westfield is 2.8%.


Population
43,649 people

County
Hamilton County

Renters

18.7% of Westfield households are renters.


Rent Burden

31.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hamilton County 1
Indiana 2
National 2
Studio $722 $593 $737
1 bedroom $831 $666 $813
2 bedroom $1,007 $840 $1,015
3 bedroom $1,329 $1,099 $1,325
4 bedroom $1,548 $1,251 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Westfield Demographics


Median Individual Income
$44,630 / year

Median Household Income
$98,376 / year

Families w/ Dual Incomes
62%

Unemployment Rate
2.8%
Household Income Distribution
Westfield, IN

Median Age
35 years

Avg Family Size
3.13 people
Age Distribution
Westfield, IN

College Education or Above
59%

STEM College Graduates
41%
Education Distribution
Westfield, IN
Source: U.S. Census Bureau

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