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Multifamily Loans in
Garland, TX

Overview

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.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Garland, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Garland 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 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
10 Year Fixed 3.38% - 3.62%
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 3.06% - 3.31%
7 Year Fixed 3.23% - 3.68%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Garland 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 03, 2021


Multifamily Lenders in Garland, TX

All major multifamily lender types are lending in Garland.


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 03, 2021


Garland Market

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%.


Population
239,928 people

County
Dallas County

Renters

37.5% of Garland households are renters.


Rent Burden

31% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Garland Demographics


Median Individual Income
$28,980 / year

Median Household Income
$61,211 / year

Families w/ Dual Incomes
59%

Unemployment Rate
5.2%
Household Income Distribution
Garland, TX

Median Age
34 years

Avg Family Size
3.71 people
Age Distribution
Garland, TX

College Education or Above
23%

STEM College Graduates
45%
Education Distribution
Garland, TX
Source: U.S. Census Bureau

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