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Multifamily Loans in
Midland, TX

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Midland, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Midland 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 Midland 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 Midland, TX

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


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


Midland Market

The city of Midland in Midland County has a population of 146,038. The median rent in Midland County for a 2 bedroom is $1,498. The median Midland resident is 32 years old with a yearly income of $38,279. The average family has 3.53 members and a median household income of $79,329. Midland has a 29% higher education rate. The unemployment rate in Midland is 3.3%.


Population
146,038 people

County
Midland County

Renters

34.9% of Midland households are renters.


Rent Burden

25.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Midland County 1
Texas 2
National 2
Studio $1,207 $669 $737
1 bedroom $1,215 $738 $813
2 bedroom $1,498 $912 $1,015
3 bedroom $1,863 $1,210 $1,325
4 bedroom $2,533 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Midland Demographics


Median Individual Income
$38,279 / year

Median Household Income
$79,329 / year

Families w/ Dual Incomes
57%

Unemployment Rate
3.3%
Household Income Distribution
Midland, TX

Median Age
32 years

Avg Family Size
3.53 people
Age Distribution
Midland, TX

College Education or Above
29%

STEM College Graduates
44%
Education Distribution
Midland, TX
Source: U.S. Census Bureau

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