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Multifamily Loans in
Lagrange, GA

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Lagrange, GA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lagrange 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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Lagrange 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 04, 2021


Multifamily Lenders in Lagrange, GA

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


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 04, 2021


Lagrange Market

The city of Lagrange in Troup County has a population of 30,305. The median rent in Troup County for a 2 bedroom is $845. The median Lagrange resident is 34 years old with a yearly income of $20,738. The average family has 3.41 members and a median household income of $34,808. Lagrange has a 18% higher education rate. The unemployment rate in Lagrange is 6.7%.


Population
30,305 people

County
Troup County

Renters

61.4% of Lagrange households are renters.


Rent Burden

37.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Troup County 1
Georgia 2
National 2
Studio $637 $670 $737
1 bedroom $641 $698 $813
2 bedroom $845 $840 $1,015
3 bedroom $1,140 $1,103 $1,325
4 bedroom $1,183 $1,302 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lagrange Demographics


Median Individual Income
$20,738 / year

Median Household Income
$34,808 / year

Families w/ Dual Incomes
43%

Unemployment Rate
6.7%
Household Income Distribution
Lagrange, GA

Median Age
34 years

Avg Family Size
3.41 people
Age Distribution
Lagrange, GA

College Education or Above
18%

STEM College Graduates
35%
Education Distribution
Lagrange, GA
Source: U.S. Census Bureau

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