Middletown is located in a good market for 5+ unit multifamily loans. Multifamily loans in Middletown are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Middletown are competitive. Middletown 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 Middletown.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Middletown 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 Middletown.
The city of Middletown in New Castle County has a population of 22,900. The median rent in New Castle County for a 2 bedroom is $1,358. The median Middletown resident is 39 years old with a yearly income of $42,494. The average family has 3.37 members and a median household income of $90,134. Middletown has a 40% higher education rate. The unemployment rate in Middletown is 7.0%.
21% of Middletown households are renters.
25.4% median household income spent on rent.
Bedrooms |
New Castle County 1 |
Delaware 2 |
National 2 |
|---|---|---|---|
| Studio | $970 | $868 | $737 |
| 1 bedroom | $1,121 | $963 | $813 |
| 2 bedroom | $1,358 | $1,182 | $1,015 |
| 3 bedroom | $1,689 | $1,580 | $1,325 |
| 4 bedroom | $1,935 | $1,827 | $1,521 |
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