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Multifamily Loans in
Katy, TX

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Katy, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Katy 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 3.37% - 3.61%
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 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Katy 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 03, 2021


Multifamily Lenders in Katy, TX

All major multifamily lender types are lending in Katy.


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 03, 2021


Katy Market

The city of Katy in Harris County has a population of 21,729. The median rent in Harris County for a 2 bedroom is $1,306. The median Katy resident is 40 years old with a yearly income of $37,801. The average family has 3.36 members and a median household income of $83,091. Katy has a 35% higher education rate. The unemployment rate in Katy is 5.9%.


Population
21,729 people

County
Harris County

Renters

19.6% of Katy households are renters.


Rent Burden

27.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Harris County 1
Texas 2
National 2
Studio $1,008 $669 $737
1 bedroom $1,092 $738 $813
2 bedroom $1,306 $912 $1,015
3 bedroom $1,751 $1,210 $1,325
4 bedroom $2,232 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Katy Demographics


Median Individual Income
$37,801 / year

Median Household Income
$83,091 / year

Families w/ Dual Incomes
66%

Unemployment Rate
5.9%
Household Income Distribution
Katy, TX

Median Age
40 years

Avg Family Size
3.36 people
Age Distribution
Katy, TX

College Education or Above
35%

STEM College Graduates
42%
Education Distribution
Katy, TX
Source: U.S. Census Bureau

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