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Multifamily Loans in
Cornelius, NC

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Cornelius, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cornelius 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 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
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 Cornelius 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 Cornelius, NC

All major multifamily lender types are lending in Cornelius.


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


Cornelius Market

The city of Cornelius in Mecklenburg County has a population of 30,257. The median rent in Mecklenburg County for a 2 bedroom is $1,243. The median Cornelius resident is 41 years old with a yearly income of $46,852. The average family has 2.96 members and a median household income of $90,542. Cornelius has a 54% higher education rate. The unemployment rate in Cornelius is 3.9%.


Population
30,257 people

County
Mecklenburg County

Renters

31.5% of Cornelius households are renters.


Rent Burden

20.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Mecklenburg County 1
North Carolina 2
National 2
Studio $1,066 $694 $737
1 bedroom $1,090 $713 $813
2 bedroom $1,243 $871 $1,015
3 bedroom $1,639 $1,152 $1,325
4 bedroom $2,112 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cornelius Demographics


Median Individual Income
$46,852 / year

Median Household Income
$90,542 / year

Families w/ Dual Incomes
54%

Unemployment Rate
3.9%
Household Income Distribution
Cornelius, NC

Median Age
41 years

Avg Family Size
2.96 people
Age Distribution
Cornelius, NC

College Education or Above
54%

STEM College Graduates
36%
Education Distribution
Cornelius, NC
Source: U.S. Census Bureau

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