Fitchburg is located in a good market for 5+ unit multifamily loans. Multifamily loans in Fitchburg are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Fitchburg are competitive. Fitchburg 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 Fitchburg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fitchburg 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 Fitchburg.
The city of Fitchburg in Worcester County has a population of 40,638. The median rent in Worcester County for a 2 bedroom is $1,552. The median Fitchburg resident is 36 years old with a yearly income of $27,975. The average family has 3.23 members and a median household income of $57,207. Fitchburg has a 21% higher education rate. The unemployment rate in Fitchburg is 8.3%.
46.5% of Fitchburg households are renters.
30.8% median household income spent on rent.
Bedrooms |
Worcester County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $1,138 | $1,259 | $737 |
| 1 bedroom | $1,214 | $1,399 | $813 |
| 2 bedroom | $1,552 | $1,747 | $1,015 |
| 3 bedroom | $1,930 | $2,190 | $1,325 |
| 4 bedroom | $2,105 | $2,423 | $1,521 |
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