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Multifamily Loans in
Montgomery, AL

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Montgomery, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Montgomery 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 Montgomery 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 Montgomery, AL

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


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


Montgomery Market

The city of Montgomery in Montgomery County has a population of 198,525. The median rent in Montgomery County for a 2 bedroom is $972. The median Montgomery resident is 36 years old with a yearly income of $25,725. The average family has 3.18 members and a median household income of $48,011. Montgomery has a 33% higher education rate. The unemployment rate in Montgomery is 6.8%.


Population
198,525 people

County
Montgomery County

Renters

44.9% of Montgomery households are renters.


Rent Burden

33.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Montgomery County 1
Alabama 2
National 2
Studio $685 $580 $737
1 bedroom $820 $626 $813
2 bedroom $972 $767 $1,015
3 bedroom $1,229 $1,004 $1,325
4 bedroom $1,628 $1,157 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Montgomery Demographics


Median Individual Income
$25,725 / year

Median Household Income
$48,011 / year

Families w/ Dual Incomes
44%

Unemployment Rate
6.8%
Household Income Distribution
Montgomery, AL

Median Age
36 years

Avg Family Size
3.18 people
Age Distribution
Montgomery, AL

College Education or Above
33%

STEM College Graduates
38%
Education Distribution
Montgomery, AL
Source: U.S. Census Bureau

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