Westport is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Westport are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Westport are some of the lowest nationally. Westport 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 Westport.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Westport are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.32% - 6.56% |
| 7 Year Fixed | 6.43% - 6.67% |
| 10 Year Fixed | 6.39% - 6.63% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Westport.
The city of Westport in Fairfield County has a population of 28,016. The median rent in Fairfield County for a 2 bedroom is $1,557. The median Westport resident is 46 years old with a yearly income of $76,777. The average family has 3.27 members and a median household income of $206,466. Westport has a 78% higher education rate. The unemployment rate in Westport is 4.0%.
14.8% of Westport households are renters.
27.6% median household income spent on rent.
Bedrooms |
Fairfield County 1 |
Connecticut 2 |
National 2 |
|---|---|---|---|
| Studio | $1,027 | $974 | $737 |
| 1 bedroom | $1,245 | $1,155 | $813 |
| 2 bedroom | $1,557 | $1,442 | $1,015 |
| 3 bedroom | $1,983 | $1,820 | $1,325 |
| 4 bedroom | $2,387 | $2,144 | $1,521 |
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