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Multifamily Loans in
St. Andrews, SC

Overview

St. Andrews is located in a good market for 5+ unit multifamily loans. Multifamily loans in St. Andrews are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in St. Andrews are competitive. St. Andrews 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 St. Andrews.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in St. Andrews, SC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in St. Andrews 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 $7.5M
5 Year Fixed 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.17% - 3.42%
7 Year Fixed 3.34% - 3.79%
10 Year Fixed 3.32% - 3.72%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in St. Andrews 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 08, 2021


Multifamily Lenders in St. Andrews, SC

All major multifamily lender types are lending in St. Andrews.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


St. Andrews Market

The city of St. Andrews in Richland County has a population of 20,990. The median rent in Richland County for a 2 bedroom is $1,041. The median St. Andrews resident is 32 years old with a yearly income of $25,273. The average family has 3.16 members and a median household income of $37,042. St. Andrews has a 24% higher education rate. The unemployment rate in St. Andrews is 9.7%.


Population
20,990 people

County
Richland County

Renters

68.1% of St. Andrews households are renters.


Rent Burden

33.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Richland County 1
South Carolina 2
National 2
Studio $846 $697 $737
1 bedroom $913 $732 $813
2 bedroom $1,041 $879 $1,015
3 bedroom $1,336 $1,158 $1,325
4 bedroom $1,651 $1,369 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

St. Andrews Demographics


Median Individual Income
$25,273 / year

Median Household Income
$37,042 / year

Families w/ Dual Incomes
41%

Unemployment Rate
9.7%
Household Income Distribution
St. Andrews, SC

Median Age
32 years

Avg Family Size
3.16 people
Age Distribution
St. Andrews, SC

College Education or Above
24%

STEM College Graduates
39%
Education Distribution
St. Andrews, SC
Source: U.S. Census Bureau

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