Garner is located in a good market for 5+ unit multifamily loans. Multifamily loans in Garner are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Garner are competitive. Garner 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 Garner.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Garner 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 Garner.
The city of Garner in Wake County has a population of 31,407. The median rent in Wake County for a 2 bedroom is $1,293. The median Garner resident is 38 years old with a yearly income of $35,592. The average family has 3.04 members and a median household income of $65,064. Garner has a 39% higher education rate. The unemployment rate in Garner is 4.5%.
33.5% of Garner households are renters.
33.3% median household income spent on rent.
Bedrooms |
Wake County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $1,092 | $694 | $737 |
| 1 bedroom | $1,134 | $713 | $813 |
| 2 bedroom | $1,293 | $871 | $1,015 |
| 3 bedroom | $1,626 | $1,152 | $1,325 |
| 4 bedroom | $2,101 | $1,386 | $1,521 |
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