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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Gallatin 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 | 6.99% - 7.23% |
| 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 Gallatin.
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%.
37.5% of Gallatin households are renters.
28.6% median household income spent on rent.
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 |
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