Greenville is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Greenville are considered greater risk due to market dynamics. Interest rates for multifamily loans in Greenville are higher than the national average. Greenville apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Greenville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Greenville 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 $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.92% - 7.16% |
| 10 Year Fixed | 6.83% - 7.07% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Greenville.
The city of Greenville in Washington County has a population of 29,085. The median rent in Washington County for a 2 bedroom is $738. The median Greenville resident is 37 years old with a yearly income of $17,812. The average family has 3.28 members and a median household income of $27,025. Greenville has a 19% higher education rate. The unemployment rate in Greenville is 14.1%.
50.7% of Greenville households are renters.
40.9% median household income spent on rent.
Bedrooms |
Washington County 1 |
Mississippi 2 |
National 2 |
|---|---|---|---|
| Studio | $570 | $573 | $737 |
| 1 bedroom | $609 | $612 | $813 |
| 2 bedroom | $738 | $754 | $1,015 |
| 3 bedroom | $959 | $975 | $1,325 |
| 4 bedroom | $1,105 | $1,111 | $1,521 |
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