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Multifamily Loans in
Decatur, AL

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Decatur, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Decatur 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Decatur 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 04, 2021


Multifamily Lenders in Decatur, AL

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


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 04, 2021


Decatur Market

The city of Decatur in Morgan County has a population of 54,445. The median rent in Morgan County for a 2 bedroom is $741. The median Decatur resident is 40 years old with a yearly income of $26,591. The average family has 3.1 members and a median household income of $48,429. Decatur has a 25% higher education rate. The unemployment rate in Decatur is 5.7%.


Population
54,445 people

County
Morgan County

Renters

36.4% of Decatur households are renters.


Rent Burden

30.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Morgan County 1
Alabama 2
National 2
Studio $532 $580 $737
1 bedroom $601 $626 $813
2 bedroom $741 $767 $1,015
3 bedroom $968 $1,004 $1,325
4 bedroom $1,005 $1,157 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Decatur Demographics


Median Individual Income
$26,591 / year

Median Household Income
$48,429 / year

Families w/ Dual Incomes
44%

Unemployment Rate
5.7%
Household Income Distribution
Decatur, AL

Median Age
40 years

Avg Family Size
3.1 people
Age Distribution
Decatur, AL

College Education or Above
25%

STEM College Graduates
36%
Education Distribution
Decatur, AL
Source: U.S. Census Bureau

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