Pelham is located in a good market for 5+ unit multifamily loans. Multifamily loans in Pelham are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Pelham are competitive. Pelham 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 Pelham.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pelham 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 Pelham.
The city of Pelham in Shelby County has a population of 23,911. The median rent in Shelby County for a 2 bedroom is $1,093. The median Pelham resident is 41 years old with a yearly income of $40,719. The average family has 3.13 members and a median household income of $80,510. Pelham has a 40% higher education rate. The unemployment rate in Pelham is 3.4%.
14.7% of Pelham households are renters.
23.8% median household income spent on rent.
Bedrooms |
Shelby 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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