Bessemer is located in a good market for 5+ unit multifamily loans. Multifamily loans in Bessemer are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Bessemer are competitive. Bessemer 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 Bessemer.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bessemer are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.23% - 6.47% |
| 10 Year Fixed | 6.24% - 6.48% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Bessemer.
The city of Bessemer in Jefferson County has a population of 26,472. The median rent in Jefferson County for a 2 bedroom is $1,093. The median Bessemer resident is 40 years old with a yearly income of $17,632. The average family has 3.24 members and a median household income of $32,301. Bessemer has a 15% higher education rate. The unemployment rate in Bessemer is 14.9%.
48.3% of Bessemer households are renters.
38.6% median household income spent on rent.
Bedrooms |
Jefferson 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 |
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