Lufkin is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Lufkin are considered greater risk due to market dynamics. Interest rates for multifamily loans in Lufkin are higher than the national average. Lufkin 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 Lufkin.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lufkin 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 | 5.28% - 5.52% |
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 Lufkin.
The city of Lufkin in Angelina County has a population of 35,021. The median rent in Angelina County for a 2 bedroom is $914. The median Lufkin resident is 34 years old with a yearly income of $23,850. The average family has 3.32 members and a median household income of $48,588. Lufkin has a 22% higher education rate. The unemployment rate in Lufkin is 6.6%.
47.9% of Lufkin households are renters.
33.1% median household income spent on rent.
Bedrooms |
Angelina County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $775 | $669 | $737 |
| 1 bedroom | $779 | $738 | $813 |
| 2 bedroom | $914 | $912 | $1,015 |
| 3 bedroom | $1,155 | $1,210 | $1,325 |
| 4 bedroom | $1,239 | $1,407 | $1,521 |
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