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Multifamily Loans in
Garner, NC

Overview

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.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Garner, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Garner 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 $7.5M
5 Year Fixed 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Garner 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 02, 2021


Multifamily Lenders in Garner, NC

All major multifamily lender types are lending in Garner.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 02, 2021


Garner Market

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%.


Population
31,407 people

County
Wake County

Renters

33.5% of Garner households are renters.


Rent Burden

33.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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

Garner Demographics


Median Individual Income
$35,592 / year

Median Household Income
$65,064 / year

Families w/ Dual Incomes
54%

Unemployment Rate
4.5%
Household Income Distribution
Garner, NC

Median Age
38 years

Avg Family Size
3.04 people
Age Distribution
Garner, NC

College Education or Above
39%

STEM College Graduates
38%
Education Distribution
Garner, NC
Source: U.S. Census Bureau

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