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Multifamily Loans in
Westport, CT

Overview

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.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Westport, CT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Westport 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 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 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 2.98% - 3.23%
7 Year Fixed 3.14% - 3.59%
10 Year Fixed 3.20% - 3.60%
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 Westport 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 Westport, CT

All major multifamily lender types are lending in Westport.


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


Westport Market

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%.


Population
28,016 people

County
Fairfield County

Renters

14.8% of Westport households are renters.


Rent Burden

27.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Westport Demographics


Median Individual Income
$76,777 / year

Median Household Income
$206,466 / year

Families w/ Dual Incomes
53%

Unemployment Rate
4.0%
Household Income Distribution
Westport, CT

Median Age
46 years

Avg Family Size
3.27 people
Age Distribution
Westport, CT

College Education or Above
78%

STEM College Graduates
43%
Education Distribution
Westport, CT
Source: U.S. Census Bureau

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