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Multifamily Loans in
Texarkana, AR

Overview

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.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Texarkana, AR

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Texarkana 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Texarkana 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 Texarkana, AR

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


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 Dec 08, 2021


Texarkana Market

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%.


Population
29,657 people

County
Miller County

Renters

43.9% of Texarkana households are renters.


Rent Burden

36.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Texarkana Demographics


Median Individual Income
$22,912 / year

Median Household Income
$39,622 / year

Families w/ Dual Incomes
40%

Unemployment Rate
8.1%
Household Income Distribution
Texarkana, AR

Median Age
40 years

Avg Family Size
3.13 people
Age Distribution
Texarkana, AR

College Education or Above
18%

STEM College Graduates
38%
Education Distribution
Texarkana, AR
Source: U.S. Census Bureau

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