Daphne is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Daphne are considered greater risk due to market dynamics. Interest rates for multifamily loans in Daphne are higher than the national average. Daphne apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Daphne.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Daphne 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 $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.92% - 7.16% |
| 10 Year Fixed | 6.83% - 7.07% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Daphne.
The city of Daphne in Baldwin County has a population of 26,869. The median rent in Baldwin County for a 2 bedroom is $1,054. The median Daphne resident is 38 years old with a yearly income of $33,050. The average family has 3.39 members and a median household income of $71,882. Daphne has a 42% higher education rate. The unemployment rate in Daphne is 3.4%.
28.9% of Daphne households are renters.
28.2% median household income spent on rent.
Bedrooms |
Baldwin County 1 |
Alabama 2 |
National 2 |
|---|---|---|---|
| Studio | $821 | $580 | $737 |
| 1 bedroom | $827 | $626 | $813 |
| 2 bedroom | $1,054 | $767 | $1,015 |
| 3 bedroom | $1,428 | $1,004 | $1,325 |
| 4 bedroom | $1,810 | $1,157 | $1,521 |
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