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Multifamily Loans in
Lynchburg, VA

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Lynchburg, VA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lynchburg 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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Lynchburg 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 05, 2021


Multifamily Lenders in Lynchburg, VA

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


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 05, 2021


Lynchburg Market

The city of Lynchburg in Lynchburg city has a population of 82,168. The median rent in Lynchburg city for a 2 bedroom is $842. The median Lynchburg resident is 28 years old with a yearly income of $20,819. The average family has 3.19 members and a median household income of $46,409. Lynchburg has a 36% higher education rate. The unemployment rate in Lynchburg is 5.8%.


Population
82,168 people

County
Lynchburg city

Renters

51.3% of Lynchburg households are renters.


Rent Burden

30.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lynchburg city 1
Virginia 2
National 2
Studio $680 $833 $737
1 bedroom $709 $897 $813
2 bedroom $842 $1,072 $1,015
3 bedroom $1,131 $1,423 $1,325
4 bedroom $1,333 $1,680 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lynchburg Demographics


Median Individual Income
$20,819 / year

Median Household Income
$46,409 / year

Families w/ Dual Incomes
48%

Unemployment Rate
5.8%
Household Income Distribution
Lynchburg, VA

Median Age
28 years

Avg Family Size
3.19 people
Age Distribution
Lynchburg, VA

College Education or Above
36%

STEM College Graduates
45%
Education Distribution
Lynchburg, VA
Source: U.S. Census Bureau

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