Temple is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Temple are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Temple are slightly higher than the national average. Temple 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 Temple.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Temple 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 | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.18% - 5.42% |
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 | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Temple.
The city of Temple in Bell County has a population of 78,439. The median rent in Bell County for a 2 bedroom is $864. The median Temple resident is 34 years old with a yearly income of $28,273. The average family has 3.32 members and a median household income of $54,873. Temple has a 29% higher education rate. The unemployment rate in Temple is 5.5%.
45.4% of Temple households are renters.
27.4% median household income spent on rent.
Bedrooms |
Bell County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $674 | $669 | $737 |
| 1 bedroom | $678 | $738 | $813 |
| 2 bedroom | $864 | $912 | $1,015 |
| 3 bedroom | $1,237 | $1,210 | $1,325 |
| 4 bedroom | $1,496 | $1,407 | $1,521 |
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