Marblehead is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Marblehead are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Marblehead are some of the lowest nationally. Marblehead 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 Marblehead.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Marblehead are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.42% - 5.66% |
| 7 Year Fixed | 5.48% - 5.72% |
| 10 Year Fixed | 5.34% - 5.58% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Marblehead.
The city of Marblehead in Essex County has a population of 20,500. The median rent in Essex County for a 2 bedroom is $2,470. The median Marblehead resident is 48 years old with a yearly income of $53,405. The average family has 2.96 members and a median household income of $123,333. Marblehead has a 71% higher education rate. The unemployment rate in Marblehead is 4.9%.
22.2% of Marblehead households are renters.
33.8% median household income spent on rent.
Bedrooms |
Essex County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $1,842 | $1,259 | $737 |
| 1 bedroom | $2,034 | $1,399 | $813 |
| 2 bedroom | $2,470 | $1,747 | $1,015 |
| 3 bedroom | $3,072 | $2,190 | $1,325 |
| 4 bedroom | $3,349 | $2,423 | $1,521 |
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