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Multifamily Loans in
Monroe, NC

Overview

Monroe is located in a good market for 5+ unit multifamily loans. Multifamily loans in Monroe are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Monroe are competitive. Monroe 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 Monroe.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Monroe, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Monroe 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 $7.5M
5 Year Fixed 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
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 Monroe 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 Monroe, NC

All major multifamily lender types are lending in Monroe.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 02, 2021


Monroe Market

The city of Monroe in Union County has a population of 35,540. The median rent in Union County for a 2 bedroom is $1,243. The median Monroe resident is 35 years old with a yearly income of $25,495. The average family has 3.45 members and a median household income of $51,754. Monroe has a 17% higher education rate. The unemployment rate in Monroe is 8.6%.


Population
35,540 people

County
Union County

Renters

40.4% of Monroe households are renters.


Rent Burden

31.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Union County 1
North Carolina 2
National 2
Studio $1,066 $694 $737
1 bedroom $1,090 $713 $813
2 bedroom $1,243 $871 $1,015
3 bedroom $1,639 $1,152 $1,325
4 bedroom $2,112 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Monroe Demographics


Median Individual Income
$25,495 / year

Median Household Income
$51,754 / year

Families w/ Dual Incomes
57%

Unemployment Rate
8.6%
Household Income Distribution
Monroe, NC

Median Age
35 years

Avg Family Size
3.45 people
Age Distribution
Monroe, NC

College Education or Above
17%

STEM College Graduates
32%
Education Distribution
Monroe, NC
Source: U.S. Census Bureau

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