Brent is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Brent are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Brent are slightly higher than the national average. Brent 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 Brent.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Brent 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 Brent.
The city of Brent in Escambia County has a population of 22,337. The median rent in Escambia County for a 2 bedroom is $1,059. The median Brent resident is 30 years old with a yearly income of $16,968. The average family has 3.25 members and a median household income of $39,549. Brent has a 15% higher education rate. The unemployment rate in Brent is 8.3%.
52.3% of Brent households are renters.
31.2% median household income spent on rent.
Bedrooms |
Escambia County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $833 | $822 | $737 |
| 1 bedroom | $901 | $891 | $813 |
| 2 bedroom | $1,059 | $1,089 | $1,015 |
| 3 bedroom | $1,486 | $1,448 | $1,325 |
| 4 bedroom | $1,834 | $1,716 | $1,521 |
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