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Multifamily Loans in
La Porte, TX

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in La Porte, TX

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 $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 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 03, 2021


Multifamily Lenders in La Porte, TX

All major multifamily lender types are lending in La Porte.


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


La Porte Market

The city of La Porte in Harris County has a population of 34,976. The median rent in Harris County for a 2 bedroom is $1,306. The median La Porte resident is 38 years old with a yearly income of $34,585. The average family has 3.27 members and a median household income of $75,262. La Porte has a 16% higher education rate. The unemployment rate in La Porte is 6.6%.


Population
34,976 people

County
Harris County

Renters

25.1% of La Porte households are renters.


Rent Burden

28.4% 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

La Porte Demographics


Median Individual Income
$34,585 / year

Median Household Income
$75,262 / year

Families w/ Dual Incomes
53%

Unemployment Rate
6.6%
Household Income Distribution
La Porte, TX

Median Age
38 years

Avg Family Size
3.27 people
Age Distribution
La Porte, TX

College Education or Above
16%

STEM College Graduates
44%
Education Distribution
La Porte, TX
Source: U.S. Census Bureau

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