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Multifamily Loans in
Lufkin, TX

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Lufkin, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lufkin 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 3.73% - 3.97%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Lufkin 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 03, 2021


Multifamily Lenders in Lufkin, TX

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


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 03, 2021


Lufkin Market

The city of Lufkin in Angelina County has a population of 35,021. The median rent in Angelina County for a 2 bedroom is $914. The median Lufkin resident is 34 years old with a yearly income of $23,850. The average family has 3.32 members and a median household income of $48,588. Lufkin has a 22% higher education rate. The unemployment rate in Lufkin is 6.6%.


Population
35,021 people

County
Angelina County

Renters

47.9% of Lufkin households are renters.


Rent Burden

33.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Angelina County 1
Texas 2
National 2
Studio $775 $669 $737
1 bedroom $779 $738 $813
2 bedroom $914 $912 $1,015
3 bedroom $1,155 $1,210 $1,325
4 bedroom $1,239 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lufkin Demographics


Median Individual Income
$23,850 / year

Median Household Income
$48,588 / year

Families w/ Dual Incomes
50%

Unemployment Rate
6.6%
Household Income Distribution
Lufkin, TX

Median Age
34 years

Avg Family Size
3.32 people
Age Distribution
Lufkin, TX

College Education or Above
22%

STEM College Graduates
43%
Education Distribution
Lufkin, TX
Source: U.S. Census Bureau

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