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Multifamily Loans in
Monroe, LA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Monroe, LA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Monroe 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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Monroe 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 Monroe, LA

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


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


Monroe Market

The city of Monroe in Ouachita Parish has a population of 47,294. The median rent in Ouachita Parish for a 2 bedroom is $861. The median Monroe resident is 33 years old with a yearly income of $19,064. The average family has 3.58 members and a median household income of $30,438. Monroe has a 26% higher education rate. The unemployment rate in Monroe is 8.5%.


Population
47,294 people

County
Ouachita Parish

Renters

57.2% of Monroe households are renters.


Rent Burden

42.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Ouachita Parish 1
Louisiana 2
National 2
Studio $649 $665 $737
1 bedroom $653 $729 $813
2 bedroom $861 $888 $1,015
3 bedroom $1,084 $1,160 $1,325
4 bedroom $1,190 $1,326 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Monroe Demographics


Median Individual Income
$19,064 / year

Median Household Income
$30,438 / year

Families w/ Dual Incomes
35%

Unemployment Rate
8.5%
Household Income Distribution
Monroe, LA

Median Age
33 years

Avg Family Size
3.58 people
Age Distribution
Monroe, LA

College Education or Above
26%

STEM College Graduates
37%
Education Distribution
Monroe, LA
Source: U.S. Census Bureau

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