Alvin is located in a good market for 5+ unit multifamily loans. Multifamily loans in Alvin are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Alvin are competitive. Alvin 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 Alvin.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Alvin are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.91% - 7.65% |
| 7 Year Fixed | 6.77% - 7.28% |
| 10 Year Fixed | 6.69% - 7.09% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.14% - 6.38% |
| 7 Year Fixed | 6.93% - 6.17% |
| 10 Year Fixed | 5.84% - 6.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.57% - 7.08% |
| 10 Year Fixed | 6.49% - 6.89% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.87% - 6.02% |
| 7 Year Fixed | 5.84% - 5.99% |
| 10 Year Fixed | 5.76% - 5.91% |
All major multifamily lender types are lending in Alvin.
The city of Alvin in Brazoria County has a population of 26,723. The median rent in Brazoria County for a 2 bedroom is $1,249. The median Alvin resident is 34 years old with a yearly income of $30,413. The average family has 3.33 members and a median household income of $56,504. Alvin has a 17% higher education rate. The unemployment rate in Alvin is 5.2%.
41.1% of Alvin households are renters.
28.5% median household income spent on rent.
Bedrooms |
Brazoria County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $824 | $669 | $737 |
| 1 bedroom | $1,096 | $738 | $813 |
| 2 bedroom | $1,249 | $912 | $1,015 |
| 3 bedroom | $1,675 | $1,210 | $1,325 |
| 4 bedroom | $2,163 | $1,407 | $1,521 |
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