Texarkana is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Texarkana are considered greater risk due to market dynamics. Interest rates for multifamily loans in Texarkana are higher than the national average. Texarkana 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 Texarkana.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Texarkana are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.58% - 6.82% |
| 7 Year Fixed | 6.42% - 6.66% |
| 10 Year Fixed | 6.38% - 6.62% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Texarkana.
The city of Texarkana in Miller County has a population of 29,657. The median rent in Miller County for a 2 bedroom is $863. The median Texarkana resident is 40 years old with a yearly income of $22,912. The average family has 3.13 members and a median household income of $39,622. Texarkana has a 18% higher education rate. The unemployment rate in Texarkana is 8.1%.
43.9% of Texarkana households are renters.
36.4% median household income spent on rent.
Bedrooms |
Miller County 1 |
Arkansas 2 |
National 2 |
|---|---|---|---|
| Studio | $676 | $535 | $737 |
| 1 bedroom | $687 | $574 | $813 |
| 2 bedroom | $863 | $723 | $1,015 |
| 3 bedroom | $1,076 | $954 | $1,325 |
| 4 bedroom | $1,381 | $1,104 | $1,521 |
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