Victoria is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Victoria are considered greater risk due to market dynamics. Interest rates for multifamily loans in Victoria are higher than the national average. Victoria 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 Victoria.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Victoria 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 Victoria.
The city of Victoria in Victoria County has a population of 66,916. The median rent in Victoria County for a 2 bedroom is $1,097. The median Victoria resident is 34 years old with a yearly income of $26,203. The average family has 3.42 members and a median household income of $54,192. Victoria has a 21% higher education rate. The unemployment rate in Victoria is 5.8%.
40.5% of Victoria households are renters.
31% median household income spent on rent.
Bedrooms |
Victoria County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $768 | $669 | $737 |
| 1 bedroom | $889 | $738 | $813 |
| 2 bedroom | $1,097 | $912 | $1,015 |
| 3 bedroom | $1,416 | $1,210 | $1,325 |
| 4 bedroom | $1,565 | $1,407 | $1,521 |
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