Homewood is located in a good market for 5+ unit multifamily loans. Multifamily loans in Homewood are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Homewood are competitive. Homewood 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 Homewood.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Homewood 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 Homewood.
The city of Homewood in Jefferson County has a population of 25,377. The median rent in Jefferson County for a 2 bedroom is $1,093. The median Homewood resident is 31 years old with a yearly income of $41,135. The average family has 3.18 members and a median household income of $84,157. Homewood has a 64% higher education rate. The unemployment rate in Homewood is 2.7%.
37.2% of Homewood households are renters.
26.6% median household income spent on rent.
Bedrooms |
Jefferson County 1 |
Alabama 2 |
National 2 |
|---|---|---|---|
| Studio | $891 | $580 | $737 |
| 1 bedroom | $950 | $626 | $813 |
| 2 bedroom | $1,093 | $767 | $1,015 |
| 3 bedroom | $1,421 | $1,004 | $1,325 |
| 4 bedroom | $1,537 | $1,157 | $1,521 |
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