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Multifamily Loans in
Tupelo, MS

Overview

Tupelo is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Tupelo are considered greater risk due to market dynamics. Interest rates for multifamily loans in Tupelo are higher than the national average. Tupelo 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 Tupelo.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Tupelo, MS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Tupelo 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 Tupelo 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 Tupelo, MS

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


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


Tupelo Market

The city of Tupelo in Lee County has a population of 38,312. The median rent in Lee County for a 2 bedroom is $826. The median Tupelo resident is 36 years old with a yearly income of $26,499. The average family has 3.18 members and a median household income of $50,694. Tupelo has a 32% higher education rate. The unemployment rate in Tupelo is 5.3%.


Population
38,312 people

County
Lee County

Renters

41.1% of Tupelo households are renters.


Rent Burden

29.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lee County 1
Mississippi 2
National 2
Studio $637 $573 $737
1 bedroom $641 $612 $813
2 bedroom $826 $754 $1,015
3 bedroom $1,046 $975 $1,325
4 bedroom $1,270 $1,111 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Tupelo Demographics


Median Individual Income
$26,499 / year

Median Household Income
$50,694 / year

Families w/ Dual Incomes
46%

Unemployment Rate
5.3%
Household Income Distribution
Tupelo, MS

Median Age
36 years

Avg Family Size
3.18 people
Age Distribution
Tupelo, MS

College Education or Above
32%

STEM College Graduates
38%
Education Distribution
Tupelo, MS
Source: U.S. Census Bureau

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