Albertville is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Albertville are considered greater risk due to market dynamics. Interest rates for multifamily loans in Albertville are higher than the national average. Albertville apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Albertville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Albertville are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.58% - 5.82% |
| 7 Year Fixed | 5.37% - 5.61% |
| 10 Year Fixed | 5.23% - 5.47% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Albertville.
The city of Albertville in Marshall County has a population of 21,711. The median rent in Marshall County for a 2 bedroom is $687. The median Albertville resident is 33 years old with a yearly income of $23,470. The average family has 3.54 members and a median household income of $45,867. Albertville has a 16% higher education rate. The unemployment rate in Albertville is 2.0%.
37.8% of Albertville households are renters.
28% median household income spent on rent.
Bedrooms |
Marshall County 1 |
Alabama 2 |
National 2 |
|---|---|---|---|
| Studio | $524 | $580 | $737 |
| 1 bedroom | $527 | $626 | $813 |
| 2 bedroom | $687 | $767 | $1,015 |
| 3 bedroom | $916 | $1,004 | $1,325 |
| 4 bedroom | $932 | $1,157 | $1,521 |
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