Forney is located in a good market for 5+ unit multifamily loans. Multifamily loans in Forney are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Forney are competitive. Forney apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Forney.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Forney are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 7.04% - 7.28% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Forney.
The city of Forney in Kaufman County has a population of 27,236. The median rent in Kaufman County for a 2 bedroom is $1,473. The median Forney resident is 32 years old with a yearly income of $49,519. The average family has 3.7 members and a median household income of $102,716. Forney has a 29% higher education rate. The unemployment rate in Forney is 5.4%.
14.8% of Forney households are renters.
39.9% median household income spent on rent.
Bedrooms |
Kaufman County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $1,121 | $669 | $737 |
| 1 bedroom | $1,235 | $738 | $813 |
| 2 bedroom | $1,473 | $912 | $1,015 |
| 3 bedroom | $1,902 | $1,210 | $1,325 |
| 4 bedroom | $2,516 | $1,407 | $1,521 |
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