Warwick is located in a good market for 5+ unit multifamily loans. Multifamily loans in Warwick are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Warwick are competitive. Warwick 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 Warwick.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Warwick 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 Warwick.
The city of Warwick in Kent County has a population of 81,004. The median rent in Kent County for a 2 bedroom is $1,239. The median Warwick resident is 45 years old with a yearly income of $38,886. The average family has 2.92 members and a median household income of $73,757. Warwick has a 34% higher education rate. The unemployment rate in Warwick is 3.7%.
28.5% of Warwick households are renters.
32.4% median household income spent on rent.
Bedrooms |
Kent County 1 |
Rhode Island 2 |
National 2 |
|---|---|---|---|
| Studio | $915 | $936 | $737 |
| 1 bedroom | $1,030 | $1,044 | $813 |
| 2 bedroom | $1,239 | $1,270 | $1,015 |
| 3 bedroom | $1,541 | $1,615 | $1,325 |
| 4 bedroom | $1,850 | $1,932 | $1,521 |
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