Stephenville is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Stephenville are considered greater risk due to market dynamics. Interest rates for multifamily loans in Stephenville are higher than the national average. Stephenville 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 Stephenville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Stephenville 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 Stephenville.
The city of Stephenville in Erath County has a population of 21,247. The median rent in Erath County for a 2 bedroom is $875. The median Stephenville resident is 25 years old with a yearly income of $18,899. The average family has 3.63 members and a median household income of $47,161. Stephenville has a 33% higher education rate. The unemployment rate in Stephenville is 5.1%.
56.4% of Stephenville households are renters.
33.9% median household income spent on rent.
Bedrooms |
Erath County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $707 | $669 | $737 |
| 1 bedroom | $711 | $738 | $813 |
| 2 bedroom | $875 | $912 | $1,015 |
| 3 bedroom | $1,182 | $1,210 | $1,325 |
| 4 bedroom | $1,187 | $1,407 | $1,521 |
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