Converse is located in a good market for 5+ unit multifamily loans. Multifamily loans in Converse are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Converse are competitive. Converse 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 Converse.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Converse 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.28% - 5.52% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Converse.
The city of Converse in Bexar County has a population of 28,171. The median rent in Bexar County for a 2 bedroom is $1,198. The median Converse resident is 31 years old with a yearly income of $32,210. The average family has 3.97 members and a median household income of $72,911. Converse has a 26% higher education rate. The unemployment rate in Converse is 4.7%.
28.2% of Converse households are renters.
32.2% median household income spent on rent.
Bedrooms |
Bexar County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $818 | $669 | $737 |
| 1 bedroom | $981 | $738 | $813 |
| 2 bedroom | $1,198 | $912 | $1,015 |
| 3 bedroom | $1,556 | $1,210 | $1,325 |
| 4 bedroom | $1,928 | $1,407 | $1,521 |
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