Bristol is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Bristol are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Bristol are slightly higher than the national average. Bristol 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 Bristol.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bristol are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.53% - 6.77% |
| 7 Year Fixed | 6.32% - 6.56% |
| 10 Year Fixed | 6.28% - 6.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.74% - 5.84% |
| 7 Year Fixed | 5.79% - 5.89% |
| 10 Year Fixed | 5.77% - 5.87% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Bristol.
The city of Bristol in Sullivan County has a population of 26,987. The median rent in Sullivan County for a 2 bedroom is $704. The median Bristol resident is 42 years old with a yearly income of $22,797. The average family has 2.97 members and a median household income of $42,010. Bristol has a 26% higher education rate. The unemployment rate in Bristol is 7.9%.
34% of Bristol households are renters.
28.8% median household income spent on rent.
Bedrooms |
Sullivan County 1 |
Tennessee 2 |
National 2 |
|---|---|---|---|
| Studio | $515 | $618 | $737 |
| 1 bedroom | $536 | $657 | $813 |
| 2 bedroom | $704 | $813 | $1,015 |
| 3 bedroom | $920 | $1,073 | $1,325 |
| 4 bedroom | $1,013 | $1,248 | $1,521 |
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