La Porte is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in La Porte are considered greater risk due to market dynamics. Interest rates for multifamily loans in La Porte are higher than the national average. La Porte 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 La Porte.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in La Porte 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 | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.23% - 5.47% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in La Porte.
The city of La Porte in LaPorte County has a population of 21,569. The median rent in LaPorte County for a 2 bedroom is $826. The median La Porte resident is 37 years old with a yearly income of $25,494. The average family has 2.85 members and a median household income of $41,231. La Porte has a 17% higher education rate. The unemployment rate in La Porte is 7.3%.
39.5% of La Porte households are renters.
30.8% median household income spent on rent.
Bedrooms |
LaPorte County 1 |
Indiana 2 |
National 2 |
|---|---|---|---|
| Studio | $545 | $593 | $737 |
| 1 bedroom | $650 | $666 | $813 |
| 2 bedroom | $826 | $840 | $1,015 |
| 3 bedroom | $1,094 | $1,099 | $1,325 |
| 4 bedroom | $1,138 | $1,251 | $1,521 |
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