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Multifamily Loans in
Houma, LA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Houma, LA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Houma 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 Houma 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 Houma, LA

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


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


Houma Market

The city of Houma in Terrebonne Parish has a population of 32,696. The median rent in Terrebonne Parish for a 2 bedroom is $961. The median Houma resident is 37 years old with a yearly income of $25,850. The average family has 3.28 members and a median household income of $42,949. Houma has a 19% higher education rate. The unemployment rate in Houma is 6.7%.


Population
32,696 people

County
Terrebonne Parish

Renters

35.2% of Houma households are renters.


Rent Burden

41.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Terrebonne Parish 1
Louisiana 2
National 2
Studio $712 $665 $737
1 bedroom $755 $729 $813
2 bedroom $961 $888 $1,015
3 bedroom $1,299 $1,160 $1,325
4 bedroom $1,501 $1,326 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Houma Demographics


Median Individual Income
$25,850 / year

Median Household Income
$42,949 / year

Families w/ Dual Incomes
40%

Unemployment Rate
6.7%
Household Income Distribution
Houma, LA

Median Age
37 years

Avg Family Size
3.28 people
Age Distribution
Houma, LA

College Education or Above
19%

STEM College Graduates
42%
Education Distribution
Houma, LA
Source: U.S. Census Bureau

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