Canyon Lake is located in a good market for 5+ unit multifamily loans. Multifamily loans in Canyon Lake are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Canyon Lake are competitive. Canyon Lake 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 Canyon Lake.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Canyon Lake are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 7.04% - 7.28% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Canyon Lake.
The city of Canyon Lake in Comal County has a population of 25,325. The median rent in Comal County for a 2 bedroom is $1,198. The median Canyon Lake resident is 50 years old with a yearly income of $34,157. The average family has 3.03 members and a median household income of $74,401. Canyon Lake has a 31% higher education rate. The unemployment rate in Canyon Lake is 2.5%.
14.5% of Canyon Lake households are renters.
39.8% median household income spent on rent.
Bedrooms |
Comal County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $818 | $669 | $737 |
| 1 bedroom | $981 | $738 | $813 |
| 2 bedroom | $1,198 | $912 | $1,015 |
| 3 bedroom | $1,556 | $1,210 | $1,325 |
| 4 bedroom | $1,928 | $1,407 | $1,521 |
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