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Multifamily Loans in
Wichita Falls, TX

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Wichita Falls, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wichita Falls 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.73% - 3.97%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Wichita Falls 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 03, 2021


Multifamily Lenders in Wichita Falls, TX

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


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 03, 2021


Wichita Falls Market

The city of Wichita Falls in Wichita County has a population of 104,683. The median rent in Wichita County for a 2 bedroom is $892. The median Wichita Falls resident is 33 years old with a yearly income of $24,747. The average family has 3.06 members and a median household income of $47,476. Wichita Falls has a 24% higher education rate. The unemployment rate in Wichita Falls is 5.1%.


Population
104,683 people

County
Wichita County

Renters

43.7% of Wichita Falls households are renters.


Rent Burden

30.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Wichita County 1
Texas 2
National 2
Studio $628 $669 $737
1 bedroom $703 $738 $813
2 bedroom $892 $912 $1,015
3 bedroom $1,218 $1,210 $1,325
4 bedroom $1,443 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wichita Falls Demographics


Median Individual Income
$24,747 / year

Median Household Income
$47,476 / year

Families w/ Dual Incomes
51%

Unemployment Rate
5.1%
Household Income Distribution
Wichita Falls, TX

Median Age
33 years

Avg Family Size
3.06 people
Age Distribution
Wichita Falls, TX

College Education or Above
24%

STEM College Graduates
38%
Education Distribution
Wichita Falls, TX
Source: U.S. Census Bureau

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