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Multifamily Loans in
Lawrence, KS

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Lawrence, KS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lawrence 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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Lawrence 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 Lawrence, KS

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


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 08, 2021


Lawrence Market

The city of Lawrence in Douglas County has a population of 98,193. The median rent in Douglas County for a 2 bedroom is $1,002. The median Lawrence resident is 28 years old with a yearly income of $24,453. The average family has 2.94 members and a median household income of $53,639. Lawrence has a 53% higher education rate. The unemployment rate in Lawrence is 4.3%.


Population
98,193 people

County
Douglas County

Renters

55.1% of Lawrence households are renters.


Rent Burden

33.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Douglas County 1
Kansas 2
National 2
Studio $751 $581 $737
1 bedroom $797 $612 $813
2 bedroom $1,002 $781 $1,015
3 bedroom $1,434 $1,027 $1,325
4 bedroom $1,735 $1,166 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lawrence Demographics


Median Individual Income
$24,453 / year

Median Household Income
$53,639 / year

Families w/ Dual Incomes
63%

Unemployment Rate
4.3%
Household Income Distribution
Lawrence, KS

Median Age
28 years

Avg Family Size
2.94 people
Age Distribution
Lawrence, KS

College Education or Above
53%

STEM College Graduates
41%
Education Distribution
Lawrence, KS
Source: U.S. Census Bureau

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