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Multifamily Loans in
Pascagoula, MS

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Pascagoula, MS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pascagoula 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 Pascagoula 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 Pascagoula, MS

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


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


Pascagoula Market

The city of Pascagoula in Jackson County has a population of 21,699. The median rent in Jackson County for a 2 bedroom is $857. The median Pascagoula resident is 37 years old with a yearly income of $24,412. The average family has 3.41 members and a median household income of $39,887. Pascagoula has a 17% higher education rate. The unemployment rate in Pascagoula is 11.7%.


Population
21,699 people

County
Jackson County

Renters

45.4% of Pascagoula households are renters.


Rent Burden

34.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Jackson County 1
Mississippi 2
National 2
Studio $630 $573 $737
1 bedroom $746 $612 $813
2 bedroom $857 $754 $1,015
3 bedroom $1,208 $975 $1,325
4 bedroom $1,484 $1,111 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Pascagoula Demographics


Median Individual Income
$24,412 / year

Median Household Income
$39,887 / year

Families w/ Dual Incomes
41%

Unemployment Rate
11.7%
Household Income Distribution
Pascagoula, MS

Median Age
37 years

Avg Family Size
3.41 people
Age Distribution
Pascagoula, MS

College Education or Above
17%

STEM College Graduates
37%
Education Distribution
Pascagoula, MS
Source: U.S. Census Bureau

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