Oxford is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Oxford are considered greater risk due to market dynamics. Interest rates for multifamily loans in Oxford are higher than the national average. Oxford 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 Oxford.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Oxford are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.92% - 7.16% |
| 10 Year Fixed | 6.83% - 7.07% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Oxford.
The city of Oxford in Lafayette County has a population of 28,122. The median rent in Lafayette County for a 2 bedroom is $1,037. The median Oxford resident is 28 years old with a yearly income of $23,487. The average family has 3.09 members and a median household income of $44,283. Oxford has a 56% higher education rate. The unemployment rate in Oxford is 6.0%.
53.7% of Oxford households are renters.
42.6% median household income spent on rent.
Bedrooms |
Lafayette County 1 |
Mississippi 2 |
National 2 |
|---|---|---|---|
| Studio | $754 | $573 | $737 |
| 1 bedroom | $821 | $612 | $813 |
| 2 bedroom | $1,037 | $754 | $1,015 |
| 3 bedroom | $1,301 | $975 | $1,325 |
| 4 bedroom | $1,406 | $1,111 | $1,521 |
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