Mcdonough is located in a good market for 5+ unit multifamily loans. Multifamily loans in Mcdonough are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Mcdonough are competitive. Mcdonough apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Mcdonough.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mcdonough 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Mcdonough.
The city of Mcdonough in Henry County has a population of 26,768. The median rent in Henry County for a 2 bedroom is $1,284. The median Mcdonough resident is 32 years old with a yearly income of $30,248. The average family has 3.48 members and a median household income of $63,108. Mcdonough has a 30% higher education rate. The unemployment rate in Mcdonough is 7.3%.
54.7% of Mcdonough households are renters.
27.8% median household income spent on rent.
Bedrooms |
Henry County 1 |
Georgia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,101 | $670 | $737 |
| 1 bedroom | $1,126 | $698 | $813 |
| 2 bedroom | $1,284 | $840 | $1,015 |
| 3 bedroom | $1,615 | $1,103 | $1,325 |
| 4 bedroom | $1,976 | $1,302 | $1,521 |
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