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Multifamily Loans in
Fort Smith, AR

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Fort Smith, AR

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Smith 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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 3.22% - 3.47%
7 Year Fixed 3.39% - 3.84%
10 Year Fixed 3.37% - 3.77%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Fort Smith 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 08, 2021


Multifamily Lenders in Fort Smith, AR

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


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 08, 2021


Fort Smith Market

The city of Fort Smith in Sebastian County has a population of 87,891. The median rent in Sebastian County for a 2 bedroom is $751. The median Fort Smith resident is 37 years old with a yearly income of $24,528. The average family has 3.09 members and a median household income of $41,724. Fort Smith has a 22% higher education rate. The unemployment rate in Fort Smith is 4.8%.


Population
87,891 people

County
Sebastian County

Renters

49.4% of Fort Smith households are renters.


Rent Burden

26.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Sebastian County 1
Arkansas 2
National 2
Studio $568 $535 $737
1 bedroom $570 $574 $813
2 bedroom $751 $723 $1,015
3 bedroom $1,043 $954 $1,325
4 bedroom $1,214 $1,104 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fort Smith Demographics


Median Individual Income
$24,528 / year

Median Household Income
$41,724 / year

Families w/ Dual Incomes
46%

Unemployment Rate
4.8%
Household Income Distribution
Fort Smith, AR

Median Age
37 years

Avg Family Size
3.09 people
Age Distribution
Fort Smith, AR

College Education or Above
22%

STEM College Graduates
41%
Education Distribution
Fort Smith, AR
Source: U.S. Census Bureau

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