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Multifamily Loans in
Harvey, LA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Harvey, LA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Harvey 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 3.32% - 3.56%
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 3.17% - 3.42%
7 Year Fixed 3.34% - 3.79%
10 Year Fixed 3.32% - 3.72%
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 Harvey 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 Harvey, LA

All major multifamily lender types are lending in Harvey.


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 08, 2021


Harvey Market

The city of Harvey in Jefferson Parish has a population of 21,054. The median rent in Jefferson Parish for a 2 bedroom is $1,127. The median Harvey resident is 36 years old with a yearly income of $23,003. The average family has 3.46 members and a median household income of $41,559. Harvey has a 17% higher education rate. The unemployment rate in Harvey is 5.5%.


Population
21,054 people

County
Jefferson Parish

Renters

52.2% of Harvey households are renters.


Rent Burden

38.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Jefferson Parish 1
Louisiana 2
National 2
Studio $813 $665 $737
1 bedroom $955 $729 $813
2 bedroom $1,127 $888 $1,015
3 bedroom $1,457 $1,160 $1,325
4 bedroom $1,681 $1,326 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Harvey Demographics


Median Individual Income
$23,003 / year

Median Household Income
$41,559 / year

Families w/ Dual Incomes
46%

Unemployment Rate
5.5%
Household Income Distribution
Harvey, LA

Median Age
36 years

Avg Family Size
3.46 people
Age Distribution
Harvey, LA

College Education or Above
17%

STEM College Graduates
30%
Education Distribution
Harvey, LA
Source: U.S. Census Bureau

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