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Multifamily Loans in
Lumberton, NC

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Lumberton, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lumberton 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 3.15% - 3.40%
7 Year Fixed 3.35% - 3.80%
10 Year Fixed 3.35% - 3.75%
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 Lumberton 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 Lumberton, NC

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


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


Lumberton Market

The city of Lumberton in Robeson County has a population of 20,484. The median rent in Robeson County for a 2 bedroom is $693. The median Lumberton resident is 35 years old with a yearly income of $21,466. The average family has 3.47 members and a median household income of $36,935. Lumberton has a 20% higher education rate. The unemployment rate in Lumberton is 7.8%.


Population
20,484 people

County
Robeson County

Renters

52.9% of Lumberton households are renters.


Rent Burden

33.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Robeson County 1
North Carolina 2
National 2
Studio $505 $694 $737
1 bedroom $526 $713 $813
2 bedroom $693 $871 $1,015
3 bedroom $868 $1,152 $1,325
4 bedroom $960 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lumberton Demographics


Median Individual Income
$21,466 / year

Median Household Income
$36,935 / year

Families w/ Dual Incomes
36%

Unemployment Rate
7.8%
Household Income Distribution
Lumberton, NC

Median Age
35 years

Avg Family Size
3.47 people
Age Distribution
Lumberton, NC

College Education or Above
20%

STEM College Graduates
31%
Education Distribution
Lumberton, NC
Source: U.S. Census Bureau

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