Cornelius is located in a good market for 5+ unit multifamily loans. Multifamily loans in Cornelius are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Cornelius are competitive. Cornelius 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 Cornelius.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cornelius 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.44% - 5.68% |
| 7 Year Fixed | 5.28% - 5.52% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Cornelius.
The city of Cornelius in Mecklenburg County has a population of 30,257. The median rent in Mecklenburg County for a 2 bedroom is $1,243. The median Cornelius resident is 41 years old with a yearly income of $46,852. The average family has 2.96 members and a median household income of $90,542. Cornelius has a 54% higher education rate. The unemployment rate in Cornelius is 3.9%.
31.5% of Cornelius households are renters.
20.9% median household income spent on rent.
Bedrooms |
Mecklenburg County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $1,066 | $694 | $737 |
| 1 bedroom | $1,090 | $713 | $813 |
| 2 bedroom | $1,243 | $871 | $1,015 |
| 3 bedroom | $1,639 | $1,152 | $1,325 |
| 4 bedroom | $2,112 | $1,386 | $1,521 |
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