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Multifamily Loans in
Alabaster, AL

Overview

Alabaster is located in a good market for 5+ unit multifamily loans. Multifamily loans in Alabaster are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Alabaster are competitive. Alabaster 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 Alabaster.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Alabaster, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Alabaster 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 $7.5M
5 Year Fixed 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Alabaster 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 04, 2021


Multifamily Lenders in Alabaster, AL

All major multifamily lender types are lending in Alabaster.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 04, 2021


Alabaster Market

The city of Alabaster in Shelby County has a population of 33,487. The median rent in Shelby County for a 2 bedroom is $1,093. The median Alabaster resident is 38 years old with a yearly income of $35,325. The average family has 3.31 members and a median household income of $80,072. Alabaster has a 35% higher education rate. The unemployment rate in Alabaster is 4.4%.


Population
33,487 people

County
Shelby County

Renters

16.4% of Alabaster households are renters.


Rent Burden

23.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Shelby County 1
Alabama 2
National 2
Studio $891 $580 $737
1 bedroom $950 $626 $813
2 bedroom $1,093 $767 $1,015
3 bedroom $1,421 $1,004 $1,325
4 bedroom $1,537 $1,157 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Alabaster Demographics


Median Individual Income
$35,325 / year

Median Household Income
$80,072 / year

Families w/ Dual Incomes
59%

Unemployment Rate
4.4%
Household Income Distribution
Alabaster, AL

Median Age
38 years

Avg Family Size
3.31 people
Age Distribution
Alabaster, AL

College Education or Above
35%

STEM College Graduates
36%
Education Distribution
Alabaster, AL
Source: U.S. Census Bureau

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