Loading...

Multifamily Loans in
Plainview, TX

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Plainview, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Plainview 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 3.73% - 3.97%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Plainview 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 03, 2021


Multifamily Lenders in Plainview, TX

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


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 03, 2021


Plainview Market

The city of Plainview in Hale County has a population of 20,143. The median rent in Hale County for a 2 bedroom is $734. The median Plainview resident is 33 years old with a yearly income of $24,169. The average family has 3.49 members and a median household income of $48,430. Plainview has a 18% higher education rate. The unemployment rate in Plainview is 5.6%.


Population
20,143 people

County
Hale County

Renters

43.7% of Plainview households are renters.


Rent Burden

22.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hale County 1
Texas 2
National 2
Studio $538 $669 $737
1 bedroom $644 $738 $813
2 bedroom $734 $912 $1,015
3 bedroom $1,050 $1,210 $1,325
4 bedroom $1,245 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Plainview Demographics


Median Individual Income
$24,169 / year

Median Household Income
$48,430 / year

Families w/ Dual Incomes
56%

Unemployment Rate
5.6%
Household Income Distribution
Plainview, TX

Median Age
33 years

Avg Family Size
3.49 people
Age Distribution
Plainview, TX

College Education or Above
18%

STEM College Graduates
32%
Education Distribution
Plainview, TX
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day