Carrboro is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Carrboro are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Carrboro are slightly higher than the national average. Carrboro 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 Carrboro.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Carrboro 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 | 5.53% - 5.77% |
| 7 Year Fixed | 5.27% - 5.51% |
| 10 Year Fixed | 5.13% - 5.37% |
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 | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Carrboro.
The city of Carrboro in Orange County has a population of 21,190. The median rent in Orange County for a 2 bedroom is $1,218. The median Carrboro resident is 33 years old with a yearly income of $32,895. The average family has 2.97 members and a median household income of $58,702. Carrboro has a 71% higher education rate. The unemployment rate in Carrboro is 4.5%.
57.2% of Carrboro households are renters.
33.6% median household income spent on rent.
Bedrooms |
Orange County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $1,044 | $694 | $737 |
| 1 bedroom | $1,046 | $713 | $813 |
| 2 bedroom | $1,218 | $871 | $1,015 |
| 3 bedroom | $1,604 | $1,152 | $1,325 |
| 4 bedroom | $1,843 | $1,386 | $1,521 |
We're here to help.