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Multifamily Loans in
Lafayette, LA

Overview

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

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Multifamily Loan Rates in Lafayette, LA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lafayette 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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 3.22% - 3.47%
7 Year Fixed 3.39% - 3.84%
10 Year Fixed 3.37% - 3.77%
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 Lafayette 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 Lafayette, LA

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


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

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Lafayette Market

The city of Lafayette in Lafayette Parish has a population of 126,185. The median rent in Lafayette Parish for a 2 bedroom is $966. The median Lafayette resident is 36 years old with a yearly income of $27,150. The average family has 3.15 members and a median household income of $51,264. Lafayette has a 38% higher education rate. The unemployment rate in Lafayette is 5.1%.


Population
126,185 people

County
Lafayette Parish

Renters

43.4% of Lafayette households are renters.


Rent Burden

34% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lafayette Parish 1
Louisiana 2
National 2
Studio $679 $665 $737
1 bedroom $847 $729 $813
2 bedroom $966 $888 $1,015
3 bedroom $1,286 $1,160 $1,325
4 bedroom $1,461 $1,326 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lafayette Demographics


Median Individual Income
$27,150 / year

Median Household Income
$51,264 / year

Families w/ Dual Incomes
48%

Unemployment Rate
5.1%
Household Income Distribution
Lafayette, LA

Median Age
36 years

Avg Family Size
3.15 people
Age Distribution
Lafayette, LA

College Education or Above
38%

STEM College Graduates
40%
Education Distribution
Lafayette, LA
Source: U.S. Census Bureau

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