Greenwood is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Greenwood are considered greater risk due to market dynamics. Interest rates for multifamily loans in Greenwood are higher than the national average. Greenwood 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 Greenwood.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Greenwood 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 Greenwood.
The city of Greenwood in Greenwood County has a population of 23,403. The median rent in Greenwood County for a 2 bedroom is $778. The median Greenwood resident is 33 years old with a yearly income of $19,929. The average family has 3.25 members and a median household income of $33,699. Greenwood has a 23% higher education rate. The unemployment rate in Greenwood is 9.5%.
53% of Greenwood households are renters.
35.3% median household income spent on rent.
Bedrooms |
Greenwood County 1 |
South Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $667 | $697 | $737 |
| 1 bedroom | $676 | $732 | $813 |
| 2 bedroom | $778 | $879 | $1,015 |
| 3 bedroom | $1,046 | $1,158 | $1,325 |
| 4 bedroom | $1,055 | $1,369 | $1,521 |
We're here to help.