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Multifamily Loans in
Kernersville, NC

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Kernersville, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kernersville 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
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 Kernersville 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 Kernersville, NC

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


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 02, 2021


Kernersville Market

The city of Kernersville in Forsyth County has a population of 24,660. The median rent in Forsyth County for a 2 bedroom is $877. The median Kernersville resident is 42 years old with a yearly income of $31,479. The average family has 3.04 members and a median household income of $51,645. Kernersville has a 32% higher education rate. The unemployment rate in Kernersville is 5.3%.


Population
24,660 people

County
Forsyth County

Renters

47% of Kernersville households are renters.


Rent Burden

27.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Forsyth County 1
North Carolina 2
National 2
Studio $663 $694 $737
1 bedroom $712 $713 $813
2 bedroom $877 $871 $1,015
3 bedroom $1,181 $1,152 $1,325
4 bedroom $1,406 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Kernersville Demographics


Median Individual Income
$31,479 / year

Median Household Income
$51,645 / year

Families w/ Dual Incomes
55%

Unemployment Rate
5.3%
Household Income Distribution
Kernersville, NC

Median Age
42 years

Avg Family Size
3.04 people
Age Distribution
Kernersville, NC

College Education or Above
32%

STEM College Graduates
40%
Education Distribution
Kernersville, NC
Source: U.S. Census Bureau

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