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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kernersville 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 | 7.18% - 7.42% |
| 7 Year Fixed | 6.82% - 7.06% |
| 10 Year Fixed | 6.73% - 6.97% |
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 | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Kernersville.
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%.
47% of Kernersville households are renters.
27.2% median household income spent on rent.
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 |
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