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.
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 | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.84% - 7.08% |
| 10 Year Fixed | 6.78% - 7.02% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Copperas Cove.
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%.
45.7% of Copperas Cove households are renters.
28.1% median household income spent on rent.
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 |
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