St. Andrews is located in a good market for 5+ unit multifamily loans. Multifamily loans in St. Andrews are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in St. Andrews are competitive. St. Andrews 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 St. Andrews.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in St. Andrews 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 St. Andrews.
The city of St. Andrews in Richland County has a population of 20,990. The median rent in Richland County for a 2 bedroom is $1,041. The median St. Andrews resident is 32 years old with a yearly income of $25,273. The average family has 3.16 members and a median household income of $37,042. St. Andrews has a 24% higher education rate. The unemployment rate in St. Andrews is 9.7%.
68.1% of St. Andrews households are renters.
33.4% median household income spent on rent.
Bedrooms |
Richland County 1 |
South Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $846 | $697 | $737 |
| 1 bedroom | $913 | $732 | $813 |
| 2 bedroom | $1,041 | $879 | $1,015 |
| 3 bedroom | $1,336 | $1,158 | $1,325 |
| 4 bedroom | $1,651 | $1,369 | $1,521 |
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