Westfield is located in a good market for 5+ unit multifamily loans. Multifamily loans in Westfield are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Westfield are competitive. Westfield 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 Westfield.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Westfield 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 | 5.49% - 5.73% |
| 7 Year Fixed | 5.25% - 5.49% |
| 10 Year Fixed | 5.19% - 5.43% |
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 Westfield.
The city of Westfield in Hamilton County has a population of 43,649. The median rent in Hamilton County for a 2 bedroom is $1,007. The median Westfield resident is 35 years old with a yearly income of $44,630. The average family has 3.13 members and a median household income of $98,376. Westfield has a 59% higher education rate. The unemployment rate in Westfield is 2.8%.
18.7% of Westfield households are renters.
31.3% median household income spent on rent.
Bedrooms |
Hamilton County 1 |
Indiana 2 |
National 2 |
|---|---|---|---|
| Studio | $722 | $593 | $737 |
| 1 bedroom | $831 | $666 | $813 |
| 2 bedroom | $1,007 | $840 | $1,015 |
| 3 bedroom | $1,329 | $1,099 | $1,325 |
| 4 bedroom | $1,548 | $1,251 | $1,521 |
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