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Multifamily Loans in
North Platte, NE

Overview

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.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in North Platte, NE

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 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 3.68% - 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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in North Platte 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 04, 2021


Multifamily Lenders in North Platte, NE

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


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 04, 2021


North Platte Market

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%.


Population
23,639 people

County
Lincoln County

Renters

40.7% of North Platte households are renters.


Rent Burden

27.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

North Platte Demographics


Median Individual Income
$27,898 / year

Median Household Income
$54,357 / year

Families w/ Dual Incomes
56%

Unemployment Rate
4.1%
Household Income Distribution
North Platte, NE

Median Age
39 years

Avg Family Size
2.87 people
Age Distribution
North Platte, NE

College Education or Above
21%

STEM College Graduates
33%
Education Distribution
North Platte, NE
Source: U.S. Census Bureau

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