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Multifamily Loans in
Augusta, GA

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Augusta, GA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Augusta 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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Augusta 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 Augusta, GA

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


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 04, 2021


Augusta Market

The city of Augusta in Richmond County has a population of 197,888. The median rent in Richmond County for a 2 bedroom is $883. The median Augusta resident is 34 years old with a yearly income of $22,283. The average family has 3.52 members and a median household income of $42,592. Augusta has a 22% higher education rate. The unemployment rate in Augusta is 9.0%.


Population
197,888 people

County
Richmond County

Renters

47.9% of Augusta households are renters.


Rent Burden

37% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Richmond County 1
Georgia 2
National 2
Studio $689 $670 $737
1 bedroom $767 $698 $813
2 bedroom $883 $840 $1,015
3 bedroom $1,200 $1,103 $1,325
4 bedroom $1,529 $1,302 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Augusta Demographics


Median Individual Income
$22,283 / year

Median Household Income
$42,592 / year

Families w/ Dual Incomes
41%

Unemployment Rate
9.0%
Household Income Distribution
Augusta, GA

Median Age
34 years

Avg Family Size
3.52 people
Age Distribution
Augusta, GA

College Education or Above
22%

STEM College Graduates
45%
Education Distribution
Augusta, GA
Source: U.S. Census Bureau

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