Laredo is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Laredo are considered greater risk due to market dynamics. Interest rates for multifamily loans in Laredo are higher than the national average. Laredo 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 Laredo.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Laredo are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.68% - 6.92% |
| 7 Year Fixed | 6.44% - 6.68% |
| 10 Year Fixed | 6.43% - 6.67% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Laredo.
The city of Laredo in Webb County has a population of 262,491. The median rent in Webb County for a 2 bedroom is $965. The median Laredo resident is 29 years old with a yearly income of $22,228. The average family has 4.11 members and a median household income of $47,593. Laredo has a 19% higher education rate. The unemployment rate in Laredo is 4.8%.
38.2% of Laredo households are renters.
34.7% median household income spent on rent.
Bedrooms |
Webb County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $770 | $669 | $737 |
| 1 bedroom | $775 | $738 | $813 |
| 2 bedroom | $965 | $912 | $1,015 |
| 3 bedroom | $1,265 | $1,210 | $1,325 |
| 4 bedroom | $1,425 | $1,407 | $1,521 |
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