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Multifamily Loans in
Spring, TX

Overview

Spring is located in a good market for 5+ unit multifamily loans. Multifamily loans in Spring are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Spring are competitive. Spring 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 Spring.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Spring, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Spring 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 $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
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 Spring 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 Spring, TX

All major multifamily lender types are lending in Spring.


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 Dec 03, 2021


Spring Market

The city of Spring in Harris County has a population of 60,976. The median rent in Harris County for a 2 bedroom is $1,306. The median Spring resident is 35 years old with a yearly income of $34,255. The average family has 3.5 members and a median household income of $71,376. Spring has a 24% higher education rate. The unemployment rate in Spring is 5.0%.


Population
60,976 people

County
Harris County

Renters

30.4% of Spring households are renters.


Rent Burden

31.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Harris County 1
Texas 2
National 2
Studio $1,008 $669 $737
1 bedroom $1,092 $738 $813
2 bedroom $1,306 $912 $1,015
3 bedroom $1,751 $1,210 $1,325
4 bedroom $2,232 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Spring Demographics


Median Individual Income
$34,255 / year

Median Household Income
$71,376 / year

Families w/ Dual Incomes
57%

Unemployment Rate
5.0%
Household Income Distribution
Spring, TX

Median Age
35 years

Avg Family Size
3.5 people
Age Distribution
Spring, TX

College Education or Above
24%

STEM College Graduates
38%
Education Distribution
Spring, TX
Source: U.S. Census Bureau

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