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Multifamily Loans in
Georgetown, KY

Overview

Georgetown is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Georgetown are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Georgetown are slightly higher than the national average. Georgetown apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Georgetown.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Georgetown, KY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Georgetown 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.51% - 3.75%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Georgetown 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 Georgetown, KY

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


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


Georgetown Market

The city of Georgetown in Scott County has a population of 34,992. The median rent in Scott County for a 2 bedroom is $978. The median Georgetown resident is 33 years old with a yearly income of $31,488. The average family has 2.93 members and a median household income of $65,812. Georgetown has a 28% higher education rate. The unemployment rate in Georgetown is 3.6%.


Population
34,992 people

County
Scott County

Renters

38.4% of Georgetown households are renters.


Rent Burden

24.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Scott County 1
Kentucky 2
National 2
Studio $677 $548 $737
1 bedroom $783 $605 $813
2 bedroom $978 $763 $1,015
3 bedroom $1,349 $1,011 $1,325
4 bedroom $1,645 $1,144 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Georgetown Demographics


Median Individual Income
$31,488 / year

Median Household Income
$65,812 / year

Families w/ Dual Incomes
63%

Unemployment Rate
3.6%
Household Income Distribution
Georgetown, KY

Median Age
33 years

Avg Family Size
2.93 people
Age Distribution
Georgetown, KY

College Education or Above
28%

STEM College Graduates
43%
Education Distribution
Georgetown, KY
Source: U.S. Census Bureau

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