Searcy is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Searcy are considered greater risk due to market dynamics. Interest rates for multifamily loans in Searcy are higher than the national average. Searcy 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 Searcy.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Searcy are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.58% - 5.82% |
| 7 Year Fixed | 5.37% - 5.61% |
| 10 Year Fixed | 5.23% - 5.47% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Searcy.
The city of Searcy in White County has a population of 23,660. The median rent in White County for a 2 bedroom is $737. The median Searcy resident is 29 years old with a yearly income of $20,545. The average family has 3.2 members and a median household income of $41,014. Searcy has a 34% higher education rate. The unemployment rate in Searcy is 6.0%.
49.1% of Searcy households are renters.
31.5% median household income spent on rent.
Bedrooms |
White County 1 |
Arkansas 2 |
National 2 |
|---|---|---|---|
| Studio | $486 | $535 | $737 |
| 1 bedroom | $581 | $574 | $813 |
| 2 bedroom | $737 | $723 | $1,015 |
| 3 bedroom | $1,010 | $954 | $1,325 |
| 4 bedroom | $1,276 | $1,104 | $1,521 |
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