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Multifamily Loans in
Greenwood, SC

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Greenwood, SC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Greenwood 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Greenwood 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 Greenwood, SC

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


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


Greenwood Market

The city of Greenwood in Greenwood County has a population of 23,403. The median rent in Greenwood County for a 2 bedroom is $778. The median Greenwood resident is 33 years old with a yearly income of $19,929. The average family has 3.25 members and a median household income of $33,699. Greenwood has a 23% higher education rate. The unemployment rate in Greenwood is 9.5%.


Population
23,403 people

County
Greenwood County

Renters

53% of Greenwood households are renters.


Rent Burden

35.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Greenwood County 1
South Carolina 2
National 2
Studio $667 $697 $737
1 bedroom $676 $732 $813
2 bedroom $778 $879 $1,015
3 bedroom $1,046 $1,158 $1,325
4 bedroom $1,055 $1,369 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Greenwood Demographics


Median Individual Income
$19,929 / year

Median Household Income
$33,699 / year

Families w/ Dual Incomes
36%

Unemployment Rate
9.5%
Household Income Distribution
Greenwood, SC

Median Age
33 years

Avg Family Size
3.25 people
Age Distribution
Greenwood, SC

College Education or Above
23%

STEM College Graduates
38%
Education Distribution
Greenwood, SC
Source: U.S. Census Bureau

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