Thomasville is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Thomasville are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Thomasville are slightly higher than the national average. Thomasville apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Thomasville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Thomasville 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 $6M |
|---|---|
| 5 Year Fixed | 5.53% - 5.77% |
| 7 Year Fixed | 5.27% - 5.51% |
| 10 Year Fixed | 5.13% - 5.37% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Thomasville.
The city of Thomasville in Davidson County has a population of 26,649. The median rent in Davidson County for a 2 bedroom is $744. The median Thomasville resident is 39 years old with a yearly income of $24,801. The average family has 3 members and a median household income of $40,648. Thomasville has a 15% higher education rate. The unemployment rate in Thomasville is 6.3%.
43.8% of Thomasville households are renters.
27.7% median household income spent on rent.
Bedrooms |
Davidson County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $589 | $694 | $737 |
| 1 bedroom | $593 | $713 | $813 |
| 2 bedroom | $744 | $871 | $1,015 |
| 3 bedroom | $1,011 | $1,152 | $1,325 |
| 4 bedroom | $1,288 | $1,386 | $1,521 |
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