Midlothian is located in a good market for 5+ unit multifamily loans. Multifamily loans in Midlothian are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Midlothian are competitive. Midlothian apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Midlothian.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Midlothian are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.39% - 6.63% |
| 7 Year Fixed | 6.23% - 6.47% |
| 10 Year Fixed | 6.24% - 6.48% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Midlothian.
The city of Midlothian in Ellis County has a population of 33,532. The median rent in Ellis County for a 2 bedroom is $1,473. The median Midlothian resident is 37 years old with a yearly income of $43,228. The average family has 3.32 members and a median household income of $95,306. Midlothian has a 33% higher education rate. The unemployment rate in Midlothian is 2.8%.
19.4% of Midlothian households are renters.
27.8% median household income spent on rent.
Bedrooms |
Ellis County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $1,121 | $669 | $737 |
| 1 bedroom | $1,235 | $738 | $813 |
| 2 bedroom | $1,473 | $912 | $1,015 |
| 3 bedroom | $1,902 | $1,210 | $1,325 |
| 4 bedroom | $2,516 | $1,407 | $1,521 |
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