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Multifamily Loans in
Gallatin, TN

Overview

Gallatin is located in a good market for 5+ unit multifamily loans. Multifamily loans in Gallatin are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Gallatin are competitive. Gallatin 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 Gallatin.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Gallatin, TN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Gallatin are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Gallatin may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in Gallatin, TN

All major multifamily lender types are lending in Gallatin.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


Gallatin Market

The city of Gallatin in Sumner County has a population of 42,918. The median rent in Sumner County for a 2 bedroom is $1,293. The median Gallatin resident is 39 years old with a yearly income of $30,742. The average family has 3.07 members and a median household income of $59,745. Gallatin has a 28% higher education rate. The unemployment rate in Gallatin is 2.6%.


Population
42,918 people

County
Sumner County

Renters

37.5% of Gallatin households are renters.


Rent Burden

28.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Sumner County 1
Tennessee 2
National 2
Studio $1,078 $618 $737
1 bedroom $1,114 $657 $813
2 bedroom $1,293 $813 $1,015
3 bedroom $1,663 $1,073 $1,325
4 bedroom $2,085 $1,248 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Gallatin Demographics


Median Individual Income
$30,742 / year

Median Household Income
$59,745 / year

Families w/ Dual Incomes
52%

Unemployment Rate
2.6%
Household Income Distribution
Gallatin, TN

Median Age
39 years

Avg Family Size
3.07 people
Age Distribution
Gallatin, TN

College Education or Above
28%

STEM College Graduates
36%
Education Distribution
Gallatin, TN
Source: U.S. Census Bureau

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