Russellville is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Russellville are considered greater risk due to market dynamics. Interest rates for multifamily loans in Russellville are higher than the national average. Russellville 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 Russellville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Russellville 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 $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.92% - 7.16% |
| 10 Year Fixed | 6.83% - 7.07% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Russellville.
The city of Russellville in Pope County has a population of 29,175. The median rent in Pope County for a 2 bedroom is $715. The median Russellville resident is 28 years old with a yearly income of $19,048. The average family has 3.21 members and a median household income of $36,562. Russellville has a 28% higher education rate. The unemployment rate in Russellville is 8.6%.
48.5% of Russellville households are renters.
28.5% median household income spent on rent.
Bedrooms |
Pope County 1 |
Arkansas 2 |
National 2 |
|---|---|---|---|
| Studio | $509 | $535 | $737 |
| 1 bedroom | $543 | $574 | $813 |
| 2 bedroom | $715 | $723 | $1,015 |
| 3 bedroom | $1,013 | $954 | $1,325 |
| 4 bedroom | $1,071 | $1,104 | $1,521 |
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