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Multifamily Loans in
Tuscaloosa, AL

Overview

Tuscaloosa is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Tuscaloosa are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Tuscaloosa are slightly higher than the national average. Tuscaloosa apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Tuscaloosa.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Tuscaloosa, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Tuscaloosa 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 $6M
5 Year Fixed 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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®
$6M to $100M
5 Year Fixed 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Tuscaloosa 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 04, 2021


Multifamily Lenders in Tuscaloosa, AL

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Tuscaloosa.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Tuscaloosa Market

The city of Tuscaloosa in Tuscaloosa County has a population of 101,129. The median rent in Tuscaloosa County for a 2 bedroom is $901. The median Tuscaloosa resident is 29 years old with a yearly income of $20,490. The average family has 3.25 members and a median household income of $45,268. Tuscaloosa has a 37% higher education rate. The unemployment rate in Tuscaloosa is 6.7%.


Population
101,129 people

County
Tuscaloosa County

Renters

51.6% of Tuscaloosa households are renters.


Rent Burden

36.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Tuscaloosa County 1
Alabama 2
National 2
Studio $742 $580 $737
1 bedroom $747 $626 $813
2 bedroom $901 $767 $1,015
3 bedroom $1,140 $1,004 $1,325
4 bedroom $1,222 $1,157 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Tuscaloosa Demographics


Median Individual Income
$20,490 / year

Median Household Income
$45,268 / year

Families w/ Dual Incomes
46%

Unemployment Rate
6.7%
Household Income Distribution
Tuscaloosa, AL

Median Age
29 years

Avg Family Size
3.25 people
Age Distribution
Tuscaloosa, AL

College Education or Above
37%

STEM College Graduates
41%
Education Distribution
Tuscaloosa, AL
Source: U.S. Census Bureau

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