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Multifamily Loans in
Salisbury, MD

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Salisbury, MD

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Salisbury 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 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Salisbury 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 05, 2021


Multifamily Lenders in Salisbury, MD

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


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 05, 2021


Salisbury Market

The city of Salisbury in Wicomico County has a population of 32,935. The median rent in Wicomico County for a 2 bedroom is $1,126. The median Salisbury resident is 29 years old with a yearly income of $23,249. The average family has 3.17 members and a median household income of $41,905. Salisbury has a 28% higher education rate. The unemployment rate in Salisbury is 8.3%.


Population
32,935 people

County
Wicomico County

Renters

72.4% of Salisbury households are renters.


Rent Burden

35.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Wicomico County 1
Maryland 2
National 2
Studio $780 $1,013 $737
1 bedroom $862 $1,126 $813
2 bedroom $1,126 $1,365 $1,015
3 bedroom $1,536 $1,803 $1,325
4 bedroom $1,773 $2,127 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Salisbury Demographics


Median Individual Income
$23,249 / year

Median Household Income
$41,905 / year

Families w/ Dual Incomes
50%

Unemployment Rate
8.3%
Household Income Distribution
Salisbury, MD

Median Age
29 years

Avg Family Size
3.17 people
Age Distribution
Salisbury, MD

College Education or Above
28%

STEM College Graduates
42%
Education Distribution
Salisbury, MD
Source: U.S. Census Bureau

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