Simpsonville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Simpsonville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Simpsonville are competitive. Simpsonville apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Simpsonville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Simpsonville 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Simpsonville.
The city of Simpsonville in Greenville County has a population of 24,221. The median rent in Greenville County for a 2 bedroom is $1,022. The median Simpsonville resident is 38 years old with a yearly income of $35,329. The average family has 3.09 members and a median household income of $71,990. Simpsonville has a 35% higher education rate. The unemployment rate in Simpsonville is 3.6%.
24.8% of Simpsonville households are renters.
28.9% median household income spent on rent.
Bedrooms |
Greenville County 1 |
South Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $793 | $697 | $737 |
| 1 bedroom | $897 | $732 | $813 |
| 2 bedroom | $1,022 | $879 | $1,015 |
| 3 bedroom | $1,361 | $1,158 | $1,325 |
| 4 bedroom | $1,647 | $1,369 | $1,521 |
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