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Multifamily Loans in
Mooresville, NC

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Mooresville, NC

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

All major multifamily lender types are lending in Mooresville.


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


Mooresville Market

The city of Mooresville in Iredell County has a population of 39,132. The median rent in Iredell County for a 2 bedroom is $1,007. The median Mooresville resident is 35 years old with a yearly income of $34,397. The average family has 3.15 members and a median household income of $69,188. Mooresville has a 40% higher education rate. The unemployment rate in Mooresville is 3.7%.


Population
39,132 people

County
Iredell County

Renters

41.8% of Mooresville households are renters.


Rent Burden

26.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Iredell County 1
North Carolina 2
National 2
Studio $863 $694 $737
1 bedroom $883 $713 $813
2 bedroom $1,007 $871 $1,015
3 bedroom $1,358 $1,152 $1,325
4 bedroom $1,726 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Mooresville Demographics


Median Individual Income
$34,397 / year

Median Household Income
$69,188 / year

Families w/ Dual Incomes
55%

Unemployment Rate
3.7%
Household Income Distribution
Mooresville, NC

Median Age
35 years

Avg Family Size
3.15 people
Age Distribution
Mooresville, NC

College Education or Above
40%

STEM College Graduates
43%
Education Distribution
Mooresville, NC
Source: U.S. Census Bureau

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