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Multifamily Loans in
Wheaton, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Wheaton, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wheaton 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 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
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 3.00% - 3.25%
7 Year Fixed 3.20% - 3.65%
10 Year Fixed 3.20% - 3.60%
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 Wheaton 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 Wheaton, IL

All major multifamily lender types are lending in Wheaton.


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


Wheaton Market

The city of Wheaton in DuPage County has a population of 52,745. The median rent in DuPage County for a 2 bedroom is $1,417. The median Wheaton resident is 37 years old with a yearly income of $44,141. The average family has 3.18 members and a median household income of $103,376. Wheaton has a 64% higher education rate. The unemployment rate in Wheaton is 3.5%.


Population
52,745 people

County
DuPage County

Renters

26.8% of Wheaton households are renters.


Rent Burden

30.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
DuPage County 1
Illinois 2
National 2
Studio $1,104 $599 $737
1 bedroom $1,224 $669 $813
2 bedroom $1,417 $840 $1,015
3 bedroom $1,799 $1,100 $1,325
4 bedroom $2,147 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wheaton Demographics


Median Individual Income
$44,141 / year

Median Household Income
$103,376 / year

Families w/ Dual Incomes
60%

Unemployment Rate
3.5%
Household Income Distribution
Wheaton, IL

Median Age
37 years

Avg Family Size
3.18 people
Age Distribution
Wheaton, IL

College Education or Above
64%

STEM College Graduates
40%
Education Distribution
Wheaton, IL
Source: U.S. Census Bureau

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