Corpus Christi is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Corpus Christi are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Corpus Christi are slightly higher than the national average. Corpus Christi 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 Corpus Christi.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Corpus Christi are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.18% - 5.42% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Corpus Christi.
The city of Corpus Christi in Nueces County has a population of 326,586. The median rent in Nueces County for a 2 bedroom is $1,166. The median Corpus Christi resident is 35 years old with a yearly income of $27,602. The average family has 3.32 members and a median household income of $56,333. Corpus Christi has a 22% higher education rate. The unemployment rate in Corpus Christi is 5.5%.
43.3% of Corpus Christi households are renters.
31% median household income spent on rent.
Bedrooms |
Nueces County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $848 | $669 | $737 |
| 1 bedroom | $934 | $738 | $813 |
| 2 bedroom | $1,166 | $912 | $1,015 |
| 3 bedroom | $1,543 | $1,210 | $1,325 |
| 4 bedroom | $1,839 | $1,407 | $1,521 |
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