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Multifamily Loans in
Terrytown, LA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Terrytown, LA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Terrytown 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 3.32% - 3.56%
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 3.17% - 3.42%
7 Year Fixed 3.34% - 3.79%
10 Year Fixed 3.32% - 3.72%
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 Terrytown 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 Terrytown, LA

All major multifamily lender types are lending in Terrytown.


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 08, 2021


Terrytown Market

The city of Terrytown in Jefferson Parish has a population of 24,953. The median rent in Jefferson Parish for a 2 bedroom is $1,127. The median Terrytown resident is 33 years old with a yearly income of $25,249. The average family has 3.6 members and a median household income of $46,638. Terrytown has a 19% higher education rate. The unemployment rate in Terrytown is 7.2%.


Population
24,953 people

County
Jefferson Parish

Renters

52.2% of Terrytown households are renters.


Rent Burden

34.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Jefferson Parish 1
Louisiana 2
National 2
Studio $813 $665 $737
1 bedroom $955 $729 $813
2 bedroom $1,127 $888 $1,015
3 bedroom $1,457 $1,160 $1,325
4 bedroom $1,681 $1,326 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Terrytown Demographics


Median Individual Income
$25,249 / year

Median Household Income
$46,638 / year

Families w/ Dual Incomes
51%

Unemployment Rate
7.2%
Household Income Distribution
Terrytown, LA

Median Age
33 years

Avg Family Size
3.6 people
Age Distribution
Terrytown, LA

College Education or Above
19%

STEM College Graduates
38%
Education Distribution
Terrytown, LA
Source: U.S. Census Bureau

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