Cheshire is located in a good market for 5+ unit multifamily loans. Multifamily loans in Cheshire are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Cheshire are competitive. Cheshire 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 Cheshire.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cheshire 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 Cheshire.
The city of Cheshire in New Haven County has a population of 29,147. The median rent in New Haven County for a 2 bedroom is $1,546. The median Cheshire resident is 46 years old with a yearly income of $52,419. The average family has 3.04 members and a median household income of $120,546. Cheshire has a 56% higher education rate. The unemployment rate in Cheshire is 3.4%.
12.2% of Cheshire households are renters.
28.7% median household income spent on rent.
Bedrooms |
New Haven County 1 |
Connecticut 2 |
National 2 |
|---|---|---|---|
| Studio | $1,020 | $974 | $737 |
| 1 bedroom | $1,279 | $1,155 | $813 |
| 2 bedroom | $1,546 | $1,442 | $1,015 |
| 3 bedroom | $1,923 | $1,820 | $1,325 |
| 4 bedroom | $2,526 | $2,144 | $1,521 |
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