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Multifamily Loans in
Cary, NC

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Cary, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cary 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 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
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 Cary 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 Cary, NC

All major multifamily lender types are lending in Cary.


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 02, 2021


Cary Market

The city of Cary in Wake County has a population of 170,282. The median rent in Wake County for a 2 bedroom is $1,293. The median Cary resident is 40 years old with a yearly income of $50,997. The average family has 3.11 members and a median household income of $104,669. Cary has a 68% higher education rate. The unemployment rate in Cary is 3.2%.


Population
170,282 people

County
Wake County

Renters

31.6% of Cary households are renters.


Rent Burden

23.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Wake County 1
North Carolina 2
National 2
Studio $1,092 $694 $737
1 bedroom $1,134 $713 $813
2 bedroom $1,293 $871 $1,015
3 bedroom $1,626 $1,152 $1,325
4 bedroom $2,101 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cary Demographics


Median Individual Income
$50,997 / year

Median Household Income
$104,669 / year

Families w/ Dual Incomes
60%

Unemployment Rate
3.2%
Household Income Distribution
Cary, NC

Median Age
40 years

Avg Family Size
3.11 people
Age Distribution
Cary, NC

College Education or Above
68%

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

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