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Multifamily Loans in
Wilmington, DE

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Wilmington, DE

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wilmington 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
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 Wilmington 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 Wilmington, DE

All major multifamily lender types are lending in Wilmington.


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


Wilmington Market

The city of Wilmington in New Castle County has a population of 70,166. The median rent in New Castle County for a 2 bedroom is $1,358. The median Wilmington resident is 36 years old with a yearly income of $28,553. The average family has 3.37 members and a median household income of $45,032. Wilmington has a 28% higher education rate. The unemployment rate in Wilmington is 8.4%.


Population
70,166 people

County
New Castle County

Renters

56.6% of Wilmington households are renters.


Rent Burden

40% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
New Castle County 1
Delaware 2
National 2
Studio $970 $868 $737
1 bedroom $1,121 $963 $813
2 bedroom $1,358 $1,182 $1,015
3 bedroom $1,689 $1,580 $1,325
4 bedroom $1,935 $1,827 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wilmington Demographics


Median Individual Income
$28,553 / year

Median Household Income
$45,032 / year

Families w/ Dual Incomes
44%

Unemployment Rate
8.4%
Household Income Distribution
Wilmington, DE

Median Age
36 years

Avg Family Size
3.37 people
Age Distribution
Wilmington, DE

College Education or Above
28%

STEM College Graduates
40%
Education Distribution
Wilmington, DE
Source: U.S. Census Bureau

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