Brandon is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Brandon are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Brandon are slightly higher than the national average. Brandon 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 Brandon.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Brandon are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.18% - 7.42% |
| 7 Year Fixed | 6.82% - 7.06% |
| 10 Year Fixed | 6.73% - 6.97% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Brandon.
The city of Brandon in Rankin County has a population of 24,289. The median rent in Rankin County for a 2 bedroom is $1,005. The median Brandon resident is 40 years old with a yearly income of $36,560. The average family has 3.06 members and a median household income of $78,573. Brandon has a 41% higher education rate. The unemployment rate in Brandon is 2.5%.
20.1% of Brandon households are renters.
24% median household income spent on rent.
Bedrooms |
Rankin County 1 |
Mississippi 2 |
National 2 |
|---|---|---|---|
| Studio | $807 | $573 | $737 |
| 1 bedroom | $856 | $612 | $813 |
| 2 bedroom | $1,005 | $754 | $1,015 |
| 3 bedroom | $1,253 | $975 | $1,325 |
| 4 bedroom | $1,447 | $1,111 | $1,521 |
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