Carmel is located in a good market for 5+ unit multifamily loans. Multifamily loans in Carmel are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Carmel are competitive. Carmel 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 Carmel.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Carmel are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.38% - 7.12% |
| 7 Year Fixed | 6.40% - 6.91% |
| 10 Year Fixed | 6.45% - 6.85% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.18% - 6.42% |
| 10 Year Fixed | 6.19% - 6.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.18% - 6.92% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.25% - 6.65% |
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 Carmel.
The city of Carmel in Putnam County has a population of 34,210. The median rent in Putnam County for a 2 bedroom is $2,263. The median Carmel resident is 44 years old with a yearly income of $42,726. The average family has 3.29 members and a median household income of $104,016. Carmel has a 37% higher education rate. The unemployment rate in Carmel is 5.3%.
19.7% of Carmel households are renters.
31% median household income spent on rent.
Bedrooms |
Putnam County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $1,940 | $909 | $737 |
| 1 bedroom | $1,985 | $990 | $813 |
| 2 bedroom | $2,263 | $1,202 | $1,015 |
| 3 bedroom | $2,864 | $1,537 | $1,325 |
| 4 bedroom | $3,069 | $1,692 | $1,521 |
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