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Multifamily Loans in
Jackson, TN

Overview

Jackson is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Jackson are considered greater risk due to market dynamics. Interest rates for multifamily loans in Jackson are higher than the national average. Jackson apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Jackson.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Jackson, TN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Jackson 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 $6M
5 Year Fixed 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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®
$6M to $100M
5 Year Fixed 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Jackson 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 Jackson, TN

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Jackson.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Jackson Market

The city of Jackson in Madison County has a population of 67,191. The median rent in Madison County for a 2 bedroom is $897. The median Jackson resident is 36 years old with a yearly income of $25,691. The average family has 3.11 members and a median household income of $43,621. Jackson has a 28% higher education rate. The unemployment rate in Jackson is 5.9%.


Population
67,191 people

County
Madison County

Renters

47.6% of Jackson households are renters.


Rent Burden

38.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Madison County 1
Tennessee 2
National 2
Studio $592 $618 $737
1 bedroom $712 $657 $813
2 bedroom $897 $813 $1,015
3 bedroom $1,237 $1,073 $1,325
4 bedroom $1,242 $1,248 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Jackson Demographics


Median Individual Income
$25,691 / year

Median Household Income
$43,621 / year

Families w/ Dual Incomes
44%

Unemployment Rate
5.9%
Household Income Distribution
Jackson, TN

Median Age
36 years

Avg Family Size
3.11 people
Age Distribution
Jackson, TN

College Education or Above
28%

STEM College Graduates
37%
Education Distribution
Jackson, TN
Source: U.S. Census Bureau

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