Conway is located in a good market for 5+ unit multifamily loans. Multifamily loans in Conway are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Conway are competitive. Conway 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 Conway.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Conway 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Conway.
The city of Conway in Faulkner County has a population of 67,638. The median rent in Faulkner County for a 2 bedroom is $898. The median Conway resident is 29 years old with a yearly income of $25,964. The average family has 3.16 members and a median household income of $47,221. Conway has a 40% higher education rate. The unemployment rate in Conway is 3.2%.
52.4% of Conway households are renters.
32.5% median household income spent on rent.
Bedrooms |
Faulkner County 1 |
Arkansas 2 |
National 2 |
|---|---|---|---|
| Studio | $742 | $535 | $737 |
| 1 bedroom | $777 | $574 | $813 |
| 2 bedroom | $898 | $723 | $1,015 |
| 3 bedroom | $1,206 | $954 | $1,325 |
| 4 bedroom | $1,416 | $1,104 | $1,521 |
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