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.
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 | 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 | 6.34% - 6.58% |
| 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 Wake Forest.
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%.
28.7% of Wake Forest households are renters.
26.8% median household income spent on rent.
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 |
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