Loading...

Multifamily Loans in
Ruston, LA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Ruston, LA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ruston 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Ruston 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 Ruston, LA

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


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


Ruston Market

The city of Ruston in Lincoln Parish has a population of 21,854. The median rent in Lincoln Parish for a 2 bedroom is $836. The median Ruston resident is 24 years old with a yearly income of $15,004. The average family has 3.17 members and a median household income of $29,128. Ruston has a 42% higher education rate. The unemployment rate in Ruston is 4.5%.


Population
21,854 people

County
Lincoln Parish

Renters

65.3% of Ruston households are renters.


Rent Burden

41.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lincoln Parish 1
Louisiana 2
National 2
Studio $552 $665 $737
1 bedroom $719 $729 $813
2 bedroom $836 $888 $1,015
3 bedroom $1,176 $1,160 $1,325
4 bedroom $1,447 $1,326 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ruston Demographics


Median Individual Income
$15,004 / year

Median Household Income
$29,128 / year

Families w/ Dual Incomes
46%

Unemployment Rate
4.5%
Household Income Distribution
Ruston, LA

Median Age
24 years

Avg Family Size
3.17 people
Age Distribution
Ruston, LA

College Education or Above
42%

STEM College Graduates
40%
Education Distribution
Ruston, LA
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