Clemmons is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Clemmons are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Clemmons are slightly higher than the national average. Clemmons 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 Clemmons.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Clemmons 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 Clemmons.
The city of Clemmons in Forsyth County has a population of 20,867. The median rent in Forsyth County for a 2 bedroom is $877. The median Clemmons resident is 41 years old with a yearly income of $37,425. The average family has 3.21 members and a median household income of $70,659. Clemmons has a 49% higher education rate. The unemployment rate in Clemmons is 4.0%.
26.2% of Clemmons households are renters.
25.3% median household income spent on rent.
Bedrooms |
Forsyth County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $663 | $694 | $737 |
| 1 bedroom | $712 | $713 | $813 |
| 2 bedroom | $877 | $871 | $1,015 |
| 3 bedroom | $1,181 | $1,152 | $1,325 |
| 4 bedroom | $1,406 | $1,386 | $1,521 |
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