Collinsville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Collinsville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Collinsville are competitive. Collinsville 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 Collinsville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Collinsville 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 Collinsville.
The city of Collinsville in Madison County has a population of 24,395. The median rent in Madison County for a 2 bedroom is $1,005. The median Collinsville resident is 39 years old with a yearly income of $31,368. The average family has 2.97 members and a median household income of $53,490. Collinsville has a 27% higher education rate. The unemployment rate in Collinsville is 6.7%.
34.6% of Collinsville households are renters.
37.2% median household income spent on rent.
Bedrooms |
Madison 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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