Snellville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Snellville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Snellville are competitive. Snellville 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 Snellville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Snellville 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 Snellville.
The city of Snellville in Gwinnett County has a population of 20,077. The median rent in Gwinnett County for a 2 bedroom is $1,284. The median Snellville resident is 39 years old with a yearly income of $30,345. The average family has 3.45 members and a median household income of $74,535. Snellville has a 34% higher education rate. The unemployment rate in Snellville is 3.5%.
23.1% of Snellville households are renters.
33.8% median household income spent on rent.
Bedrooms |
Gwinnett County 1 |
Georgia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,101 | $670 | $737 |
| 1 bedroom | $1,126 | $698 | $813 |
| 2 bedroom | $1,284 | $840 | $1,015 |
| 3 bedroom | $1,615 | $1,103 | $1,325 |
| 4 bedroom | $1,976 | $1,302 | $1,521 |
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