Loading...

Multifamily Loans in
San Benito, TX

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in San Benito, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in San Benito 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.56% - 3.80%
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 3.11% - 3.36%
7 Year Fixed 3.35% - 3.80%
10 Year Fixed 3.33% - 3.73%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/28/2021. This is not an offer or commitment to lend. Multifamily loan rates in San Benito 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 Nov 29, 2021


Multifamily Lenders in San Benito, TX

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


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 Nov 29, 2021


San Benito Market

The city of San Benito in Cameron County has a population of 24,243. The median rent in Cameron County for a 2 bedroom is $806. The median San Benito resident is 34 years old with a yearly income of $15,064. The average family has 3.82 members and a median household income of $27,460. San Benito has a 10% higher education rate. The unemployment rate in San Benito is 6.8%.


Population
24,243 people

County
Cameron County

Renters

34.4% of San Benito households are renters.


Rent Burden

38.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cameron County 1
Texas 2
National 2
Studio $627 $669 $737
1 bedroom $631 $738 $813
2 bedroom $806 $912 $1,015
3 bedroom $1,059 $1,210 $1,325
4 bedroom $1,218 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

San Benito Demographics


Median Individual Income
$15,064 / year

Median Household Income
$27,460 / year

Families w/ Dual Incomes
33%

Unemployment Rate
6.8%
Household Income Distribution
San Benito, TX

Median Age
34 years

Avg Family Size
3.82 people
Age Distribution
San Benito, TX

College Education or Above
10%

STEM College Graduates
31%
Education Distribution
San Benito, 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