Garland is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Garland are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Garland are some of the lowest nationally. Garland 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 Garland.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Garland are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.91% - 7.65% |
| 7 Year Fixed | 6.77% - 7.28% |
| 10 Year Fixed | 6.69% - 7.09% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.82% - 6.06% |
| 7 Year Fixed | 5.88% - 6.12% |
| 10 Year Fixed | 5.79% - 6.03% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.57% - 7.08% |
| 10 Year Fixed | 6.49% - 6.89% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.75% - 5.90% |
| 7 Year Fixed | 5.72% - 5.87% |
| 10 Year Fixed | 5.64% - 5.79% |
All major multifamily lender types are lending in Garland.
The city of Garland in Dallas County has a population of 239,928. The median rent in Dallas County for a 2 bedroom is $1,473. The median Garland resident is 34 years old with a yearly income of $28,980. The average family has 3.71 members and a median household income of $61,211. Garland has a 23% higher education rate. The unemployment rate in Garland is 5.2%.
37.5% of Garland households are renters.
31% median household income spent on rent.
Bedrooms |
Dallas 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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