Vicksburg is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Vicksburg are considered greater risk due to market dynamics. Interest rates for multifamily loans in Vicksburg are higher than the national average. Vicksburg 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 Vicksburg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Vicksburg 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 | 5.37% - 5.61% |
| 10 Year Fixed | 5.23% - 5.47% |
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 Vicksburg.
The city of Vicksburg in Warren County has a population of 21,653. The median rent in Warren County for a 2 bedroom is $756. The median Vicksburg resident is 36 years old with a yearly income of $19,945. The average family has 3.46 members and a median household income of $32,072. Vicksburg has a 22% higher education rate. The unemployment rate in Vicksburg is 7.4%.
48.6% of Vicksburg households are renters.
43.8% median household income spent on rent.
Bedrooms |
Warren County 1 |
Mississippi 2 |
National 2 |
|---|---|---|---|
| Studio | $570 | $573 | $737 |
| 1 bedroom | $574 | $612 | $813 |
| 2 bedroom | $756 | $754 | $1,015 |
| 3 bedroom | $1,051 | $975 | $1,325 |
| 4 bedroom | $1,309 | $1,111 | $1,521 |
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