San Juan is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in San Juan are considered moderate risk due to market dynamics. Interest rates for multifamily loans in San Juan are slightly higher than the national average. San Juan 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 San Juan.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in San Juan 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 San Juan.
The city of San Juan in Hidalgo County has a population of 37,008. The median rent in Hidalgo County for a 2 bedroom is $785. The median San Juan resident is 30 years old with a yearly income of $19,655. The average family has 4.2 members and a median household income of $40,773. San Juan has a 13% higher education rate. The unemployment rate in San Juan is 6.1%.
21.9% of San Juan households are renters.
36% median household income spent on rent.
Bedrooms |
Hidalgo County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $606 | $669 | $737 |
| 1 bedroom | $610 | $738 | $813 |
| 2 bedroom | $785 | $912 | $1,015 |
| 3 bedroom | $1,012 | $1,210 | $1,325 |
| 4 bedroom | $1,137 | $1,407 | $1,521 |
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