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Multifamily Loans in
Canton, GA

Overview

Canton is located in a good market for 5+ unit multifamily loans. Multifamily loans in Canton are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Canton are competitive. Canton 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 Canton.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Canton, GA

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

All major multifamily lender types are lending in Canton.


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


Canton Market

The city of Canton in Cherokee County has a population of 30,528. The median rent in Cherokee County for a 2 bedroom is $1,284. The median Canton resident is 34 years old with a yearly income of $30,225. The average family has 3.24 members and a median household income of $61,259. Canton has a 29% higher education rate. The unemployment rate in Canton is 5.7%.


Population
30,528 people

County
Cherokee County

Renters

50.3% of Canton households are renters.


Rent Burden

29.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cherokee County 1
Georgia 2
National 2
Studio $1,101 $670 $737
1 bedroom $1,126 $698 $813
2 bedroom $1,284 $840 $1,015
3 bedroom $1,615 $1,103 $1,325
4 bedroom $1,976 $1,302 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Canton Demographics


Median Individual Income
$30,225 / year

Median Household Income
$61,259 / year

Families w/ Dual Incomes
59%

Unemployment Rate
5.7%
Household Income Distribution
Canton, GA

Median Age
34 years

Avg Family Size
3.24 people
Age Distribution
Canton, GA

College Education or Above
29%

STEM College Graduates
32%
Education Distribution
Canton, GA
Source: U.S. Census Bureau

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