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Multifamily Loans in
Plano, TX

Overview

Plano is located in a good market for 5+ unit multifamily loans. Multifamily loans in Plano are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Plano are competitive. Plano apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Plano.

Get multifamily loan quotes for Oct 06, 2024


Multifamily Loan Rates in Plano, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Plano 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 $7.5M
5 Year Fixed 5.49% - 5.73%
7 Year Fixed 5.28% - 5.52%
10 Year Fixed 5.19% - 5.43%
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®
$7.5M to $100M
5 Year Fixed 5.60% - 5.75%
7 Year Fixed 5.61% - 5.76%
10 Year Fixed 5.61% - 5.76%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 10/05/2024. This is not an offer or commitment to lend. Multifamily loan rates in Plano 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 Oct 06, 2024


Multifamily Lenders in Plano, TX

All major multifamily lender types are lending in Plano.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Oct 06, 2024


Plano Market

The city of Plano in Collin County has a population of 287,677. The median rent in Collin County for a 2 bedroom is $1,473. The median Plano resident is 39 years old with a yearly income of $46,418. The average family has 3.22 members and a median household income of $95,602. Plano has a 57% higher education rate. The unemployment rate in Plano is 3.7%.


Population
287,677 people

County
Collin County

Renters

40.9% of Plano households are renters.


Rent Burden

24.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Collin County 1
Texas 2
National 2
Studio $1,121 $669 $737
1 bedroom $1,235 $738 $813
2 bedroom $1,473 $912 $1,015
3 bedroom $1,902 $1,210 $1,325
4 bedroom $2,516 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Plano Demographics


Median Individual Income
$46,418 / year

Median Household Income
$95,602 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.7%
Household Income Distribution
Plano, TX

Median Age
39 years

Avg Family Size
3.22 people
Age Distribution
Plano, TX

College Education or Above
57%

STEM College Graduates
51%
Education Distribution
Plano, TX
Source: U.S. Census Bureau

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