Van Buren is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Van Buren are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Van Buren are slightly higher than the national average. Van Buren 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 Van Buren.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Van Buren 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 | 5.53% - 5.77% |
| 7 Year Fixed | 5.27% - 5.51% |
| 10 Year Fixed | 5.13% - 5.37% |
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 Van Buren.
The city of Van Buren in Crawford County has a population of 23,683. The median rent in Crawford County for a 2 bedroom is $751. The median Van Buren resident is 34 years old with a yearly income of $25,087. The average family has 3.16 members and a median household income of $45,714. Van Buren has a 18% higher education rate. The unemployment rate in Van Buren is 6.0%.
39.4% of Van Buren households are renters.
30.4% median household income spent on rent.
Bedrooms |
Crawford County 1 |
Arkansas 2 |
National 2 |
|---|---|---|---|
| Studio | $568 | $535 | $737 |
| 1 bedroom | $570 | $574 | $813 |
| 2 bedroom | $751 | $723 | $1,015 |
| 3 bedroom | $1,043 | $954 | $1,325 |
| 4 bedroom | $1,214 | $1,104 | $1,521 |
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