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Multifamily Loans in
New Iberia, LA

Overview

New Iberia is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in New Iberia are considered moderate risk due to market dynamics. Interest rates for multifamily loans in New Iberia are slightly higher than the national average. New Iberia apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in New Iberia.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in New Iberia, LA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in New Iberia 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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 3.22% - 3.47%
7 Year Fixed 3.39% - 3.84%
10 Year Fixed 3.37% - 3.77%
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 New Iberia 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 New Iberia, LA

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


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


New Iberia Market

The city of New Iberia in Iberia Parish has a population of 28,454. The median rent in Iberia Parish for a 2 bedroom is $858. The median New Iberia resident is 36 years old with a yearly income of $21,086. The average family has 3.24 members and a median household income of $38,221. New Iberia has a 17% higher education rate. The unemployment rate in New Iberia is 10.7%.


Population
28,454 people

County
Iberia Parish

Renters

43.9% of New Iberia households are renters.


Rent Burden

35.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Iberia Parish 1
Louisiana 2
National 2
Studio $647 $665 $737
1 bedroom $651 $729 $813
2 bedroom $858 $888 $1,015
3 bedroom $1,070 $1,160 $1,325
4 bedroom $1,358 $1,326 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

New Iberia Demographics


Median Individual Income
$21,086 / year

Median Household Income
$38,221 / year

Families w/ Dual Incomes
37%

Unemployment Rate
10.7%
Household Income Distribution
New Iberia, LA

Median Age
36 years

Avg Family Size
3.24 people
Age Distribution
New Iberia, LA

College Education or Above
17%

STEM College Graduates
33%
Education Distribution
New Iberia, LA
Source: U.S. Census Bureau

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