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Multifamily Loans in
North Augusta, SC

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in North Augusta, SC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Augusta 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 3.22% - 3.47%
7 Year Fixed 3.39% - 3.84%
10 Year Fixed 3.37% - 3.77%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in North Augusta 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 08, 2021


Multifamily Lenders in North Augusta, SC

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


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 08, 2021


North Augusta Market

The city of North Augusta in Aiken County has a population of 23,845. The median rent in Aiken County for a 2 bedroom is $883. The median North Augusta resident is 41 years old with a yearly income of $33,975. The average family has 2.83 members and a median household income of $59,931. North Augusta has a 37% higher education rate. The unemployment rate in North Augusta is 6.0%.


Population
23,845 people

County
Aiken County

Renters

33.9% of North Augusta households are renters.


Rent Burden

29.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Aiken County 1
South Carolina 2
National 2
Studio $689 $697 $737
1 bedroom $767 $732 $813
2 bedroom $883 $879 $1,015
3 bedroom $1,200 $1,158 $1,325
4 bedroom $1,529 $1,369 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

North Augusta Demographics


Median Individual Income
$33,975 / year

Median Household Income
$59,931 / year

Families w/ Dual Incomes
48%

Unemployment Rate
6.0%
Household Income Distribution
North Augusta, SC

Median Age
41 years

Avg Family Size
2.83 people
Age Distribution
North Augusta, SC

College Education or Above
37%

STEM College Graduates
49%
Education Distribution
North Augusta, SC
Source: U.S. Census Bureau

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