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Multifamily Loans in
Bessemer, AL

Overview

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.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Bessemer, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bessemer 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 Bessemer 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 Bessemer, AL

All major multifamily lender types are lending in Bessemer.


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


Bessemer Market

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%.


Population
26,472 people

County
Jefferson County

Renters

48.3% of Bessemer households are renters.


Rent Burden

38.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Bessemer Demographics


Median Individual Income
$17,632 / year

Median Household Income
$32,301 / year

Families w/ Dual Incomes
41%

Unemployment Rate
14.9%
Household Income Distribution
Bessemer, AL

Median Age
40 years

Avg Family Size
3.24 people
Age Distribution
Bessemer, AL

College Education or Above
15%

STEM College Graduates
32%
Education Distribution
Bessemer, AL
Source: U.S. Census Bureau

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