Bear is located in a good market for 5+ unit multifamily loans. Multifamily loans in Bear are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Bear are competitive. Bear 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 Bear.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bear are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.44% - 5.68% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Bear.
The city of Bear in New Castle County has a population of 20,850. The median rent in New Castle County for a 2 bedroom is $1,358. The median Bear resident is 36 years old with a yearly income of $35,138. The average family has 3.64 members and a median household income of $72,192. Bear has a 33% higher education rate. The unemployment rate in Bear is 9.3%.
42.1% of Bear households are renters.
23.9% 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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