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Multifamily Loans in
Aiken, SC

Overview

Aiken is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Aiken are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Aiken are slightly higher than the national average. Aiken 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 Aiken.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Aiken, SC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Aiken are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.22% - 3.47%
7 Year Fixed 3.39% - 3.84%
10 Year Fixed 3.37% - 3.77%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Aiken may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in Aiken, SC

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Aiken.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Aiken Market

The city of Aiken in Aiken County has a population of 30,869. The median rent in Aiken County for a 2 bedroom is $883. The median Aiken resident is 48 years old with a yearly income of $27,740. The average family has 2.79 members and a median household income of $56,199. Aiken has a 41% higher education rate. The unemployment rate in Aiken is 5.1%.


Population
30,869 people

County
Aiken County

Renters

34.1% of Aiken households are renters.


Rent Burden

29.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Aiken County 1
South Carolina 2
National 2
Studio $689 $697 $737
1 bedroom $767 $732 $813
2 bedroom $883 $879 $1,015
3 bedroom $1,200 $1,158 $1,325
4 bedroom $1,529 $1,369 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Aiken Demographics


Median Individual Income
$27,740 / year

Median Household Income
$56,199 / year

Families w/ Dual Incomes
38%

Unemployment Rate
5.1%
Household Income Distribution
Aiken, SC

Median Age
48 years

Avg Family Size
2.79 people
Age Distribution
Aiken, SC

College Education or Above
41%

STEM College Graduates
46%
Education Distribution
Aiken, SC
Source: U.S. Census Bureau

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