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Multifamily Loans in
Meridian, MS

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Meridian, MS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Meridian 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 3.27% - 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 Meridian 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 Meridian, MS

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


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


Meridian Market

The city of Meridian in Lauderdale County has a population of 36,347. The median rent in Lauderdale County for a 2 bedroom is $816. The median Meridian resident is 37 years old with a yearly income of $21,078. The average family has 3.05 members and a median household income of $32,422. Meridian has a 20% higher education rate. The unemployment rate in Meridian is 7.3%.


Population
36,347 people

County
Lauderdale County

Renters

50.6% of Meridian households are renters.


Rent Burden

38% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lauderdale County 1
Mississippi 2
National 2
Studio $538 $573 $737
1 bedroom $624 $612 $813
2 bedroom $816 $754 $1,015
3 bedroom $1,015 $975 $1,325
4 bedroom $1,107 $1,111 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Meridian Demographics


Median Individual Income
$21,078 / year

Median Household Income
$32,422 / year

Families w/ Dual Incomes
38%

Unemployment Rate
7.3%
Household Income Distribution
Meridian, MS

Median Age
37 years

Avg Family Size
3.05 people
Age Distribution
Meridian, MS

College Education or Above
20%

STEM College Graduates
36%
Education Distribution
Meridian, MS
Source: U.S. Census Bureau

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