Horn Lake is located in a good market for 5+ unit multifamily loans. Multifamily loans in Horn Lake are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Horn Lake are competitive. Horn Lake 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 Horn Lake.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Horn Lake 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 | 5.44% - 5.68% |
| 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 Horn Lake.
The city of Horn Lake in DeSoto County has a population of 27,272. The median rent in DeSoto County for a 2 bedroom is $972. The median Horn Lake resident is 33 years old with a yearly income of $26,628. The average family has 3.43 members and a median household income of $48,622. Horn Lake has a 16% higher education rate. The unemployment rate in Horn Lake is 8.5%.
43% of Horn Lake households are renters.
29.5% median household income spent on rent.
Bedrooms |
DeSoto County 1 |
Mississippi 2 |
National 2 |
|---|---|---|---|
| Studio | $732 | $573 | $737 |
| 1 bedroom | $836 | $612 | $813 |
| 2 bedroom | $972 | $754 | $1,015 |
| 3 bedroom | $1,311 | $975 | $1,325 |
| 4 bedroom | $1,507 | $1,111 | $1,521 |
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