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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Plainview 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 | 5.28% - 5.52% |
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 Plainview.
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%.
43.7% of Plainview households are renters.
22.3% median household income spent on rent.
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 |
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