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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wilmington are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.68% - 6.92% |
| 10 Year Fixed | 6.64% - 6.88% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Wilmington.
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%.
56.6% of Wilmington households are renters.
40% median household income spent on rent.
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 |
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