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Multifamily Loans in
Madison, AL

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Madison, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Madison 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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Madison 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 04, 2021


Multifamily Lenders in Madison, AL

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


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 04, 2021


Madison Market

The city of Madison in Madison County has a population of 51,593. The median rent in Madison County for a 2 bedroom is $883. The median Madison resident is 39 years old with a yearly income of $45,558. The average family has 3.14 members and a median household income of $99,188. Madison has a 59% higher education rate. The unemployment rate in Madison is 3.8%.


Population
51,593 people

County
Madison County

Renters

29.1% of Madison households are renters.


Rent Burden

22.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Madison County 1
Alabama 2
National 2
Studio $634 $580 $737
1 bedroom $743 $626 $813
2 bedroom $883 $767 $1,015
3 bedroom $1,172 $1,004 $1,325
4 bedroom $1,492 $1,157 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Madison Demographics


Median Individual Income
$45,558 / year

Median Household Income
$99,188 / year

Families w/ Dual Incomes
55%

Unemployment Rate
3.8%
Household Income Distribution
Madison, AL

Median Age
39 years

Avg Family Size
3.14 people
Age Distribution
Madison, AL

College Education or Above
59%

STEM College Graduates
54%
Education Distribution
Madison, AL
Source: U.S. Census Bureau

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