Southaven is located in a good market for 5+ unit multifamily loans. Multifamily loans in Southaven are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Southaven are competitive. Southaven 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 Southaven.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Southaven 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 Southaven.
The city of Southaven in DeSoto County has a population of 55,780. The median rent in DeSoto County for a 2 bedroom is $972. The median Southaven resident is 36 years old with a yearly income of $32,950. The average family has 3.23 members and a median household income of $61,026. Southaven has a 25% higher education rate. The unemployment rate in Southaven is 4.6%.
32.9% of Southaven households are renters.
28.8% 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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