The Colony is located in a good market for 5+ unit multifamily loans. Multifamily loans in The Colony are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in The Colony are competitive. The Colony 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 The Colony.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in The Colony are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.39% - 6.63% |
| 7 Year Fixed | 6.23% - 6.47% |
| 10 Year Fixed | 6.24% - 6.48% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in The Colony.
The city of The Colony in Denton County has a population of 44,438. The median rent in Denton County for a 2 bedroom is $1,473. The median The Colony resident is 35 years old with a yearly income of $45,218. The average family has 3.25 members and a median household income of $87,187. The Colony has a 39% higher education rate. The unemployment rate in The Colony is 2.5%.
38.3% of The Colony households are renters.
23.5% median household income spent on rent.
Bedrooms |
Denton County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $1,121 | $669 | $737 |
| 1 bedroom | $1,235 | $738 | $813 |
| 2 bedroom | $1,473 | $912 | $1,015 |
| 3 bedroom | $1,902 | $1,210 | $1,325 |
| 4 bedroom | $2,516 | $1,407 | $1,521 |
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