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Multifamily Loans in
Enterprise, AL

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Enterprise, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Enterprise 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 Enterprise 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 Enterprise, AL

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


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


Enterprise Market

The city of Enterprise in Coffee County has a population of 28,376. The median rent in Coffee County for a 2 bedroom is $744. The median Enterprise resident is 37 years old with a yearly income of $31,537. The average family has 3.12 members and a median household income of $62,695. Enterprise has a 30% higher education rate. The unemployment rate in Enterprise is 5.7%.


Population
28,376 people

County
Coffee County

Renters

42.9% of Enterprise households are renters.


Rent Burden

29.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Coffee County 1
Alabama 2
National 2
Studio $562 $580 $737
1 bedroom $593 $626 $813
2 bedroom $744 $767 $1,015
3 bedroom $1,065 $1,004 $1,325
4 bedroom $1,273 $1,157 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Enterprise Demographics


Median Individual Income
$31,537 / year

Median Household Income
$62,695 / year

Families w/ Dual Incomes
47%

Unemployment Rate
5.7%
Household Income Distribution
Enterprise, AL

Median Age
37 years

Avg Family Size
3.12 people
Age Distribution
Enterprise, AL

College Education or Above
30%

STEM College Graduates
37%
Education Distribution
Enterprise, AL
Source: U.S. Census Bureau

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