Chester is located in a good market for 5+ unit multifamily loans. Multifamily loans in Chester are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Chester are competitive. Chester 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 Chester.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Chester 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 | 5.28% - 5.52% |
| 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 Chester.
The city of Chester in Chesterfield County has a population of 22,032. The median rent in Chesterfield County for a 2 bedroom is $1,252. The median Chester resident is 38 years old with a yearly income of $35,676. The average family has 3.16 members and a median household income of $70,519. Chester has a 32% higher education rate. The unemployment rate in Chester is 4.6%.
27.8% of Chester households are renters.
30.2% median household income spent on rent.
Bedrooms |
Chesterfield County 1 |
Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,069 | $833 | $737 |
| 1 bedroom | $1,098 | $897 | $813 |
| 2 bedroom | $1,252 | $1,072 | $1,015 |
| 3 bedroom | $1,655 | $1,423 | $1,325 |
| 4 bedroom | $1,981 | $1,680 | $1,521 |
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