Morrisville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Morrisville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Morrisville are competitive. Morrisville 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 Morrisville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Morrisville 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 Morrisville.
The city of Morrisville in Wake County has a population of 28,846. The median rent in Wake County for a 2 bedroom is $1,293. The median Morrisville resident is 34 years old with a yearly income of $55,221. The average family has 3.27 members and a median household income of $101,738. Morrisville has a 69% higher education rate. The unemployment rate in Morrisville is 3.5%.
52.5% of Morrisville households are renters.
20.9% median household income spent on rent.
Bedrooms |
Wake County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $1,092 | $694 | $737 |
| 1 bedroom | $1,134 | $713 | $813 |
| 2 bedroom | $1,293 | $871 | $1,015 |
| 3 bedroom | $1,626 | $1,152 | $1,325 |
| 4 bedroom | $2,101 | $1,386 | $1,521 |
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