Redan is located in a good market for 5+ unit multifamily loans. Multifamily loans in Redan are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Redan are competitive. Redan 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 Redan.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Redan 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 Redan.
The city of Redan in DeKalb County has a population of 31,873. The median rent in DeKalb County for a 2 bedroom is $1,284. The median Redan resident is 37 years old with a yearly income of $25,708. The average family has 3.6 members and a median household income of $49,464. Redan has a 26% higher education rate. The unemployment rate in Redan is 8.5%.
48.9% of Redan households are renters.
35.7% median household income spent on rent.
Bedrooms |
DeKalb 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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