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Multifamily Loans in
La Porte, IN

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in La Porte, IN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in La Porte 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in La Porte 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 02, 2021


Multifamily Lenders in La Porte, IN

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


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 02, 2021


La Porte Market

The city of La Porte in LaPorte County has a population of 21,569. The median rent in LaPorte County for a 2 bedroom is $826. The median La Porte resident is 37 years old with a yearly income of $25,494. The average family has 2.85 members and a median household income of $41,231. La Porte has a 17% higher education rate. The unemployment rate in La Porte is 7.3%.


Population
21,569 people

County
LaPorte County

Renters

39.5% of La Porte households are renters.


Rent Burden

30.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
LaPorte County 1
Indiana 2
National 2
Studio $545 $593 $737
1 bedroom $650 $666 $813
2 bedroom $826 $840 $1,015
3 bedroom $1,094 $1,099 $1,325
4 bedroom $1,138 $1,251 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

La Porte Demographics


Median Individual Income
$25,494 / year

Median Household Income
$41,231 / year

Families w/ Dual Incomes
43%

Unemployment Rate
7.3%
Household Income Distribution
La Porte, IN

Median Age
37 years

Avg Family Size
2.85 people
Age Distribution
La Porte, IN

College Education or Above
17%

STEM College Graduates
38%
Education Distribution
La Porte, IN
Source: U.S. Census Bureau

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