North Platte is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in North Platte are considered greater risk due to market dynamics. Interest rates for multifamily loans in North Platte are higher than the national average. North Platte 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 North Platte.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Platte are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.23% - 5.47% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in North Platte.
The city of North Platte in Lincoln County has a population of 23,639. The median rent in Lincoln County for a 2 bedroom is $806. The median North Platte resident is 39 years old with a yearly income of $27,898. The average family has 2.87 members and a median household income of $54,357. North Platte has a 21% higher education rate. The unemployment rate in North Platte is 4.1%.
40.7% of North Platte households are renters.
27.1% median household income spent on rent.
Bedrooms |
Lincoln County 1 |
Nebraska 2 |
National 2 |
|---|---|---|---|
| Studio | $608 | $526 | $737 |
| 1 bedroom | $612 | $616 | $813 |
| 2 bedroom | $806 | $786 | $1,015 |
| 3 bedroom | $1,089 | $1,024 | $1,325 |
| 4 bedroom | $1,093 | $1,140 | $1,521 |
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