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Multifamily Loans in
Rocky Mount, NC

Overview

Rocky Mount is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Rocky Mount are considered greater risk due to market dynamics. Interest rates for multifamily loans in Rocky Mount are higher than the national average. Rocky Mount apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Rocky Mount.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Rocky Mount, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Rocky Mount 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
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 Rocky Mount 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 Rocky Mount, NC

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


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 02, 2021


Rocky Mount Market

The city of Rocky Mount in Nash County has a population of 53,922. The median rent in Nash County for a 2 bedroom is $844. The median Rocky Mount resident is 39 years old with a yearly income of $23,864. The average family has 2.99 members and a median household income of $40,633. Rocky Mount has a 20% higher education rate. The unemployment rate in Rocky Mount is 7.3%.


Population
53,922 people

County
Nash County

Renters

49.3% of Rocky Mount households are renters.


Rent Burden

32.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Nash County 1
North Carolina 2
National 2
Studio $654 $694 $737
1 bedroom $658 $713 $813
2 bedroom $844 $871 $1,015
3 bedroom $1,149 $1,152 $1,325
4 bedroom $1,238 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Rocky Mount Demographics


Median Individual Income
$23,864 / year

Median Household Income
$40,633 / year

Families w/ Dual Incomes
44%

Unemployment Rate
7.3%
Household Income Distribution
Rocky Mount, NC

Median Age
39 years

Avg Family Size
2.99 people
Age Distribution
Rocky Mount, NC

College Education or Above
20%

STEM College Graduates
35%
Education Distribution
Rocky Mount, NC
Source: U.S. Census Bureau

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