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Multifamily Loans in
Johnson City, TN

Overview

Johnson City is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Johnson City are considered greater risk due to market dynamics. Interest rates for multifamily loans in Johnson City are higher than the national average. Johnson City 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 Johnson City.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Johnson City, TN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Johnson City 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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Johnson City 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 Johnson City, TN

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


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


Johnson City Market

The city of Johnson City in Washington County has a population of 66,906. The median rent in Washington County for a 2 bedroom is $818. The median Johnson City resident is 36 years old with a yearly income of $22,705. The average family has 2.87 members and a median household income of $41,682. Johnson City has a 40% higher education rate. The unemployment rate in Johnson City is 5.5%.


Population
66,906 people

County
Washington County

Renters

49.9% of Johnson City households are renters.


Rent Burden

32.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Washington County 1
Tennessee 2
National 2
Studio $671 $618 $737
1 bedroom $676 $657 $813
2 bedroom $818 $813 $1,015
3 bedroom $1,040 $1,073 $1,325
4 bedroom $1,211 $1,248 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Johnson City Demographics


Median Individual Income
$22,705 / year

Median Household Income
$41,682 / year

Families w/ Dual Incomes
49%

Unemployment Rate
5.5%
Household Income Distribution
Johnson City, TN

Median Age
36 years

Avg Family Size
2.87 people
Age Distribution
Johnson City, TN

College Education or Above
40%

STEM College Graduates
48%
Education Distribution
Johnson City, TN
Source: U.S. Census Bureau

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