Fredericksburg is located in a good market for 5+ unit multifamily loans. Multifamily loans in Fredericksburg are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Fredericksburg are competitive. Fredericksburg 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 Fredericksburg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fredericksburg 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Fredericksburg.
The city of Fredericksburg in Fredericksburg city has a population of 29,036. The median rent in Fredericksburg city for a 2 bedroom is $1,917. The median Fredericksburg resident is 30 years old with a yearly income of $32,193. The average family has 3.27 members and a median household income of $65,641. Fredericksburg has a 41% higher education rate. The unemployment rate in Fredericksburg is 4.8%.
64.5% of Fredericksburg households are renters.
29.6% median household income spent on rent.
Bedrooms |
Fredericksburg city 1 |
Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,643 | $833 | $737 |
| 1 bedroom | $1,682 | $897 | $813 |
| 2 bedroom | $1,917 | $1,072 | $1,015 |
| 3 bedroom | $2,457 | $1,423 | $1,325 |
| 4 bedroom | $2,978 | $1,680 | $1,521 |
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