Longmont is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Longmont are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Longmont are slightly higher than the national average. Longmont apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Longmont.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Longmont 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 $6M |
|---|---|
| 5 Year Fixed | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.18% - 5.42% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Longmont.
The city of Longmont in Boulder County has a population of 97,261. The median rent in Boulder County for a 2 bedroom is $1,867. The median Longmont resident is 38 years old with a yearly income of $35,100. The average family has 3.14 members and a median household income of $74,242. Longmont has a 43% higher education rate. The unemployment rate in Longmont is 5.0%.
39.3% of Longmont households are renters.
33.3% median household income spent on rent.
Bedrooms |
Boulder County 1 |
Colorado 2 |
National 2 |
|---|---|---|---|
| Studio | $1,385 | $873 | $737 |
| 1 bedroom | $1,547 | $932 | $813 |
| 2 bedroom | $1,867 | $1,168 | $1,015 |
| 3 bedroom | $2,556 | $1,570 | $1,325 |
| 4 bedroom | $2,947 | $1,825 | $1,521 |
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