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Multifamily Loans in
Asheville, NC

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Asheville, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Asheville 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Asheville 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 02, 2021


Multifamily Lenders in Asheville, NC

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


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 02, 2021


Asheville Market

The city of Asheville in Buncombe County has a population of 92,870. The median rent in Buncombe County for a 2 bedroom is $1,372. The median Asheville resident is 39 years old with a yearly income of $28,385. The average family has 2.96 members and a median household income of $49,930. Asheville has a 49% higher education rate. The unemployment rate in Asheville is 2.8%.


Population
92,870 people

County
Buncombe County

Renters

51.8% of Asheville households are renters.


Rent Burden

35% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Buncombe County 1
North Carolina 2
National 2
Studio $1,176 $694 $737
1 bedroom $1,179 $713 $813
2 bedroom $1,372 $871 $1,015
3 bedroom $1,878 $1,152 $1,325
4 bedroom $2,374 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Asheville Demographics


Median Individual Income
$28,385 / year

Median Household Income
$49,930 / year

Families w/ Dual Incomes
52%

Unemployment Rate
2.8%
Household Income Distribution
Asheville, NC

Median Age
39 years

Avg Family Size
2.96 people
Age Distribution
Asheville, NC

College Education or Above
49%

STEM College Graduates
43%
Education Distribution
Asheville, NC
Source: U.S. Census Bureau

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