Berlin is located in a good market for 5+ unit multifamily loans. Multifamily loans in Berlin are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Berlin are competitive. Berlin 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 Berlin.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Berlin 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 Berlin.
The city of Berlin in Hartford County has a population of 20,484. The median rent in Hartford County for a 2 bedroom is $1,437. The median Berlin resident is 48 years old with a yearly income of $49,196. The average family has 2.94 members and a median household income of $101,127. Berlin has a 41% higher education rate. The unemployment rate in Berlin is 3.6%.
15.6% of Berlin households are renters.
29.8% median household income spent on rent.
Bedrooms |
Hartford County 1 |
Connecticut 2 |
National 2 |
|---|---|---|---|
| Studio | $948 | $974 | $737 |
| 1 bedroom | $1,164 | $1,155 | $813 |
| 2 bedroom | $1,437 | $1,442 | $1,015 |
| 3 bedroom | $1,787 | $1,820 | $1,325 |
| 4 bedroom | $2,089 | $2,144 | $1,521 |
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