Belton is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Belton are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Belton are slightly higher than the national average. Belton apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Belton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Belton are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.18% - 5.42% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Belton.
The city of Belton in Bell County has a population of 22,885. The median rent in Bell County for a 2 bedroom is $864. The median Belton resident is 28 years old with a yearly income of $25,439. The average family has 3.56 members and a median household income of $55,539. Belton has a 27% higher education rate. The unemployment rate in Belton is 5.1%.
49.1% of Belton households are renters.
32.5% median household income spent on rent.
Bedrooms |
Bell County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $674 | $669 | $737 |
| 1 bedroom | $678 | $738 | $813 |
| 2 bedroom | $864 | $912 | $1,015 |
| 3 bedroom | $1,237 | $1,210 | $1,325 |
| 4 bedroom | $1,496 | $1,407 | $1,521 |
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