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Multifamily Loans in
Horn Lake, MS

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Horn Lake, MS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Horn Lake 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Horn Lake 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 04, 2021


Multifamily Lenders in Horn Lake, MS

All major multifamily lender types are lending in Horn Lake.


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 04, 2021


Horn Lake Market

The city of Horn Lake in DeSoto County has a population of 27,272. The median rent in DeSoto County for a 2 bedroom is $972. The median Horn Lake resident is 33 years old with a yearly income of $26,628. The average family has 3.43 members and a median household income of $48,622. Horn Lake has a 16% higher education rate. The unemployment rate in Horn Lake is 8.5%.


Population
27,272 people

County
DeSoto County

Renters

43% of Horn Lake households are renters.


Rent Burden

29.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
DeSoto County 1
Mississippi 2
National 2
Studio $732 $573 $737
1 bedroom $836 $612 $813
2 bedroom $972 $754 $1,015
3 bedroom $1,311 $975 $1,325
4 bedroom $1,507 $1,111 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Horn Lake Demographics


Median Individual Income
$26,628 / year

Median Household Income
$48,622 / year

Families w/ Dual Incomes
51%

Unemployment Rate
8.5%
Household Income Distribution
Horn Lake, MS

Median Age
33 years

Avg Family Size
3.43 people
Age Distribution
Horn Lake, MS

College Education or Above
16%

STEM College Graduates
34%
Education Distribution
Horn Lake, MS
Source: U.S. Census Bureau

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