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Multifamily Loans in
Carrboro, NC

Overview

Carrboro is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Carrboro are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Carrboro are slightly higher than the national average. Carrboro 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 Carrboro.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Carrboro, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Carrboro 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 $6M
5 Year Fixed 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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®
$6M to $100M
5 Year Fixed 3.10% - 3.35%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Carrboro 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 02, 2021


Multifamily Lenders in Carrboro, NC

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Carrboro.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 02, 2021


Carrboro Market

The city of Carrboro in Orange County has a population of 21,190. The median rent in Orange County for a 2 bedroom is $1,218. The median Carrboro resident is 33 years old with a yearly income of $32,895. The average family has 2.97 members and a median household income of $58,702. Carrboro has a 71% higher education rate. The unemployment rate in Carrboro is 4.5%.


Population
21,190 people

County
Orange County

Renters

57.2% of Carrboro households are renters.


Rent Burden

33.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Orange County 1
North Carolina 2
National 2
Studio $1,044 $694 $737
1 bedroom $1,046 $713 $813
2 bedroom $1,218 $871 $1,015
3 bedroom $1,604 $1,152 $1,325
4 bedroom $1,843 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Carrboro Demographics


Median Individual Income
$32,895 / year

Median Household Income
$58,702 / year

Families w/ Dual Incomes
62%

Unemployment Rate
4.5%
Household Income Distribution
Carrboro, NC

Median Age
33 years

Avg Family Size
2.97 people
Age Distribution
Carrboro, NC

College Education or Above
71%

STEM College Graduates
59%
Education Distribution
Carrboro, NC
Source: U.S. Census Bureau

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