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Multifamily Loans in
Bayou Cane, LA

Overview

Bayou Cane is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Bayou Cane are considered greater risk due to market dynamics. Interest rates for multifamily loans in Bayou Cane are higher than the national average. Bayou Cane apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Bayou Cane.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Bayou Cane, LA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bayou Cane are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Bayou Cane may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in Bayou Cane, LA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Bayou Cane.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Bayou Cane Market

The city of Bayou Cane in Terrebonne Parish has a population of 20,093. The median rent in Terrebonne Parish for a 2 bedroom is $961. The median Bayou Cane resident is 34 years old with a yearly income of $27,154. The average family has 3.27 members and a median household income of $53,668. Bayou Cane has a 17% higher education rate. The unemployment rate in Bayou Cane is 4.2%.


Population
20,093 people

County
Terrebonne Parish

Renters

40.6% of Bayou Cane households are renters.


Rent Burden

27% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Terrebonne Parish 1
Louisiana 2
National 2
Studio $712 $665 $737
1 bedroom $755 $729 $813
2 bedroom $961 $888 $1,015
3 bedroom $1,299 $1,160 $1,325
4 bedroom $1,501 $1,326 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Bayou Cane Demographics


Median Individual Income
$27,154 / year

Median Household Income
$53,668 / year

Families w/ Dual Incomes
46%

Unemployment Rate
4.2%
Household Income Distribution
Bayou Cane, LA

Median Age
34 years

Avg Family Size
3.27 people
Age Distribution
Bayou Cane, LA

College Education or Above
17%

STEM College Graduates
43%
Education Distribution
Bayou Cane, LA
Source: U.S. Census Bureau

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