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Multifamily Loans in
Copperas Cove, TX

Overview

Copperas Cove is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Copperas Cove are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Copperas Cove are slightly higher than the national average. Copperas Cove 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 Copperas Cove.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Copperas Cove, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Copperas Cove 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.56% - 3.80%
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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
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 Copperas Cove 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 Copperas Cove, TX

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


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 03, 2021


Copperas Cove Market

The city of Copperas Cove in Coryell County has a population of 33,235. The median rent in Coryell County for a 2 bedroom is $864. The median Copperas Cove resident is 32 years old with a yearly income of $30,865. The average family has 3.16 members and a median household income of $52,284. Copperas Cove has a 19% higher education rate. The unemployment rate in Copperas Cove is 8.3%.


Population
33,235 people

County
Coryell County

Renters

45.7% of Copperas Cove households are renters.


Rent Burden

28.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Coryell County 1
Texas 2
National 2
Studio $674 $669 $737
1 bedroom $678 $738 $813
2 bedroom $864 $912 $1,015
3 bedroom $1,237 $1,210 $1,325
4 bedroom $1,496 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Copperas Cove Demographics


Median Individual Income
$30,865 / year

Median Household Income
$52,284 / year

Families w/ Dual Incomes
44%

Unemployment Rate
8.3%
Household Income Distribution
Copperas Cove, TX

Median Age
32 years

Avg Family Size
3.16 people
Age Distribution
Copperas Cove, TX

College Education or Above
19%

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

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