Longview is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Longview are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Longview are slightly higher than the national average. Longview 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 Longview.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Longview are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.84% - 7.08% |
| 10 Year Fixed | 6.78% - 7.02% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Longview.
The city of Longview in Gregg County has a population of 81,631. The median rent in Gregg County for a 2 bedroom is $899. The median Longview resident is 35 years old with a yearly income of $25,387. The average family has 3.3 members and a median household income of $49,086. Longview has a 21% higher education rate. The unemployment rate in Longview is 5.0%.
45.7% of Longview households are renters.
28.5% median household income spent on rent.
Bedrooms |
Gregg County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $638 | $669 | $737 |
| 1 bedroom | $762 | $738 | $813 |
| 2 bedroom | $899 | $912 | $1,015 |
| 3 bedroom | $1,218 | $1,210 | $1,325 |
| 4 bedroom | $1,429 | $1,407 | $1,521 |
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