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Multifamily Loans in
Wake Forest, NC

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Wake Forest, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wake Forest 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 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Wake Forest 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 02, 2021


Multifamily Lenders in Wake Forest, NC

All major multifamily lender types are lending in Wake Forest.


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 02, 2021


Wake Forest Market

The city of Wake Forest in Wake County has a population of 45,629. The median rent in Wake County for a 2 bedroom is $1,293. The median Wake Forest resident is 37 years old with a yearly income of $43,783. The average family has 3.29 members and a median household income of $92,210. Wake Forest has a 55% higher education rate. The unemployment rate in Wake Forest is 3.9%.


Population
45,629 people

County
Wake County

Renters

28.7% of Wake Forest households are renters.


Rent Burden

26.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Wake County 1
North Carolina 2
National 2
Studio $1,092 $694 $737
1 bedroom $1,134 $713 $813
2 bedroom $1,293 $871 $1,015
3 bedroom $1,626 $1,152 $1,325
4 bedroom $2,101 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wake Forest Demographics


Median Individual Income
$43,783 / year

Median Household Income
$92,210 / year

Families w/ Dual Incomes
58%

Unemployment Rate
3.9%
Household Income Distribution
Wake Forest, NC

Median Age
37 years

Avg Family Size
3.29 people
Age Distribution
Wake Forest, NC

College Education or Above
55%

STEM College Graduates
44%
Education Distribution
Wake Forest, NC
Source: U.S. Census Bureau

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