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Multifamily Loans in
West Memphis, AR

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in West Memphis, AR

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in West Memphis 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 West Memphis 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 West Memphis, AR

All major multifamily lender types are lending in West Memphis.


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


West Memphis Market

The city of West Memphis in Crittenden County has a population of 24,402. The median rent in Crittenden County for a 2 bedroom is $972. The median West Memphis resident is 33 years old with a yearly income of $21,216. The average family has 3.12 members and a median household income of $33,103. West Memphis has a 15% higher education rate. The unemployment rate in West Memphis is 9.9%.


Population
24,402 people

County
Crittenden County

Renters

51.3% of West Memphis households are renters.


Rent Burden

38% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Crittenden County 1
Arkansas 2
National 2
Studio $732 $535 $737
1 bedroom $836 $574 $813
2 bedroom $972 $723 $1,015
3 bedroom $1,311 $954 $1,325
4 bedroom $1,507 $1,104 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

West Memphis Demographics


Median Individual Income
$21,216 / year

Median Household Income
$33,103 / year

Families w/ Dual Incomes
37%

Unemployment Rate
9.9%
Household Income Distribution
West Memphis, AR

Median Age
33 years

Avg Family Size
3.12 people
Age Distribution
West Memphis, AR

College Education or Above
15%

STEM College Graduates
31%
Education Distribution
West Memphis, AR
Source: U.S. Census Bureau

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