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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lumberton 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 Lumberton.
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%.
52.9% of Lumberton households are renters.
33.7% median household income spent on rent.
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 |
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