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Multifamily Loans in
Fairhope, AL

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Fairhope, AL

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

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


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


Fairhope Market

The city of Fairhope in Baldwin County has a population of 22,677. The median rent in Baldwin County for a 2 bedroom is $1,054. The median Fairhope resident is 44 years old with a yearly income of $35,889. The average family has 3.22 members and a median household income of $75,197. Fairhope has a 55% higher education rate. The unemployment rate in Fairhope is 4.6%.


Population
22,677 people

County
Baldwin County

Renters

21.9% of Fairhope households are renters.


Rent Burden

35.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fairhope Demographics


Median Individual Income
$35,889 / year

Median Household Income
$75,197 / year

Families w/ Dual Incomes
47%

Unemployment Rate
4.6%
Household Income Distribution
Fairhope, AL

Median Age
44 years

Avg Family Size
3.22 people
Age Distribution
Fairhope, AL

College Education or Above
55%

STEM College Graduates
45%
Education Distribution
Fairhope, AL
Source: U.S. Census Bureau

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