Belleville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Belleville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Belleville are competitive. Belleville 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 Belleville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Belleville 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 | 5.49% - 5.73% |
| 7 Year Fixed | 5.25% - 5.49% |
| 10 Year Fixed | 5.19% - 5.43% |
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 Belleville.
The city of Belleville in St. Clair County has a population of 40,897. The median rent in St. Clair County for a 2 bedroom is $1,005. The median Belleville resident is 37 years old with a yearly income of $29,598. The average family has 3.19 members and a median household income of $48,099. Belleville has a 24% higher education rate. The unemployment rate in Belleville is 5.7%.
40% of Belleville households are renters.
31.5% median household income spent on rent.
Bedrooms |
St. Clair County 1 |
Illinois 2 |
National 2 |
|---|---|---|---|
| Studio | $719 | $599 | $737 |
| 1 bedroom | $783 | $669 | $813 |
| 2 bedroom | $1,005 | $840 | $1,015 |
| 3 bedroom | $1,311 | $1,100 | $1,325 |
| 4 bedroom | $1,543 | $1,238 | $1,521 |
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