Harlingen is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Harlingen are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Harlingen are slightly higher than the national average. Harlingen 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 Harlingen.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Harlingen 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 Harlingen.
The city of Harlingen in Cameron County has a population of 65,022. The median rent in Cameron County for a 2 bedroom is $806. The median Harlingen resident is 32 years old with a yearly income of $20,315. The average family has 3.59 members and a median household income of $39,752. Harlingen has a 18% higher education rate. The unemployment rate in Harlingen is 6.2%.
44.5% of Harlingen households are renters.
32.2% median household income spent on rent.
Bedrooms |
Cameron County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $627 | $669 | $737 |
| 1 bedroom | $631 | $738 | $813 |
| 2 bedroom | $806 | $912 | $1,015 |
| 3 bedroom | $1,059 | $1,210 | $1,325 |
| 4 bedroom | $1,218 | $1,407 | $1,521 |
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