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Multifamily Loans in
Hot Springs, AR

Overview

Hot Springs is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Hot Springs are considered greater risk due to market dynamics. Interest rates for multifamily loans in Hot Springs are higher than the national average. Hot Springs apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Hot Springs.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Hot Springs, AR

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hot Springs 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Hot Springs 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 Hot Springs, AR

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


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


Hot Springs Market

The city of Hot Springs in Garland County has a population of 38,797. The median rent in Garland County for a 2 bedroom is $849. The median Hot Springs resident is 42 years old with a yearly income of $22,017. The average family has 3.15 members and a median household income of $37,552. Hot Springs has a 20% higher education rate. The unemployment rate in Hot Springs is 5.7%.


Population
38,797 people

County
Garland County

Renters

45.3% of Hot Springs households are renters.


Rent Burden

33.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Garland County 1
Arkansas 2
National 2
Studio $604 $535 $737
1 bedroom $644 $574 $813
2 bedroom $849 $723 $1,015
3 bedroom $1,068 $954 $1,325
4 bedroom $1,383 $1,104 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hot Springs Demographics


Median Individual Income
$22,017 / year

Median Household Income
$37,552 / year

Families w/ Dual Incomes
39%

Unemployment Rate
5.7%
Household Income Distribution
Hot Springs, AR

Median Age
42 years

Avg Family Size
3.15 people
Age Distribution
Hot Springs, AR

College Education or Above
20%

STEM College Graduates
36%
Education Distribution
Hot Springs, AR
Source: U.S. Census Bureau

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