Newnan is located in a good market for 5+ unit multifamily loans. Multifamily loans in Newnan are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Newnan are competitive. Newnan 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 Newnan.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Newnan 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 Newnan.
The city of Newnan in Coweta County has a population of 41,581. The median rent in Coweta County for a 2 bedroom is $1,284. The median Newnan resident is 35 years old with a yearly income of $32,143. The average family has 3.17 members and a median household income of $63,606. Newnan has a 31% higher education rate. The unemployment rate in Newnan is 4.2%.
45.5% of Newnan households are renters.
33.8% median household income spent on rent.
Bedrooms |
Coweta County 1 |
Georgia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,101 | $670 | $737 |
| 1 bedroom | $1,126 | $698 | $813 |
| 2 bedroom | $1,284 | $840 | $1,015 |
| 3 bedroom | $1,615 | $1,103 | $1,325 |
| 4 bedroom | $1,976 | $1,302 | $1,521 |
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