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Multifamily Loans in
Goose Creek, SC

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Goose Creek, SC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Goose Creek 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
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 3.22% - 3.47%
7 Year Fixed 3.39% - 3.84%
10 Year Fixed 3.37% - 3.77%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Goose Creek 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 08, 2021


Multifamily Lenders in Goose Creek, SC

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


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 08, 2021


Goose Creek Market

The city of Goose Creek in Berkeley County has a population of 43,665. The median rent in Berkeley County for a 2 bedroom is $1,317. The median Goose Creek resident is 32 years old with a yearly income of $31,129. The average family has 3.27 members and a median household income of $68,893. Goose Creek has a 27% higher education rate. The unemployment rate in Goose Creek is 4.9%.


Population
43,665 people

County
Berkeley County

Renters

29.4% of Goose Creek households are renters.


Rent Burden

32.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Berkeley County 1
South Carolina 2
National 2
Studio $1,091 $697 $737
1 bedroom $1,155 $732 $813
2 bedroom $1,317 $879 $1,015
3 bedroom $1,685 $1,158 $1,325
4 bedroom $2,194 $1,369 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Goose Creek Demographics


Median Individual Income
$31,129 / year

Median Household Income
$68,893 / year

Families w/ Dual Incomes
54%

Unemployment Rate
4.9%
Household Income Distribution
Goose Creek, SC

Median Age
32 years

Avg Family Size
3.27 people
Age Distribution
Goose Creek, SC

College Education or Above
27%

STEM College Graduates
42%
Education Distribution
Goose Creek, SC
Source: U.S. Census Bureau

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