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Multifamily Loans in
Converse, TX

Overview

Converse is located in a good market for 5+ unit multifamily loans. Multifamily loans in Converse are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Converse are competitive. Converse 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 Converse.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Converse, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Converse 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 $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Converse 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 03, 2021


Multifamily Lenders in Converse, TX

All major multifamily lender types are lending in Converse.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 03, 2021


Converse Market

The city of Converse in Bexar County has a population of 28,171. The median rent in Bexar County for a 2 bedroom is $1,198. The median Converse resident is 31 years old with a yearly income of $32,210. The average family has 3.97 members and a median household income of $72,911. Converse has a 26% higher education rate. The unemployment rate in Converse is 4.7%.


Population
28,171 people

County
Bexar County

Renters

28.2% of Converse households are renters.


Rent Burden

32.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Bexar 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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Converse Demographics


Median Individual Income
$32,210 / year

Median Household Income
$72,911 / year

Families w/ Dual Incomes
57%

Unemployment Rate
4.7%
Household Income Distribution
Converse, TX

Median Age
31 years

Avg Family Size
3.97 people
Age Distribution
Converse, TX

College Education or Above
26%

STEM College Graduates
38%
Education Distribution
Converse, TX
Source: U.S. Census Bureau

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