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Multifamily Loans in
Prattville, AL

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Prattville, AL

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

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


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


Prattville Market

The city of Prattville in Autauga County has a population of 35,957. The median rent in Autauga County for a 2 bedroom is $972. The median Prattville resident is 37 years old with a yearly income of $31,225. The average family has 3.07 members and a median household income of $61,110. Prattville has a 32% higher education rate. The unemployment rate in Prattville is 4.4%.


Population
35,957 people

County
Autauga County

Renters

37.1% of Prattville households are renters.


Rent Burden

24.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Autauga 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

Prattville Demographics


Median Individual Income
$31,225 / year

Median Household Income
$61,110 / year

Families w/ Dual Incomes
49%

Unemployment Rate
4.4%
Household Income Distribution
Prattville, AL

Median Age
37 years

Avg Family Size
3.07 people
Age Distribution
Prattville, AL

College Education or Above
32%

STEM College Graduates
39%
Education Distribution
Prattville, AL
Source: U.S. Census Bureau

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