Loading...

Multifamily Loans in
Memphis, TN

Overview

Memphis is located in a good market for 5+ unit multifamily loans. Multifamily loans in Memphis are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Memphis are competitive. Memphis 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 Memphis.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Memphis, TN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Memphis 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 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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 3.17% - 3.42%
7 Year Fixed 3.34% - 3.79%
10 Year Fixed 3.32% - 3.72%
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 Memphis 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 Memphis, TN

All major multifamily lender types are lending in Memphis.


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 08, 2021


Memphis Market

The city of Memphis in Shelby County has a population of 651,073. The median rent in Shelby County for a 2 bedroom is $972. The median Memphis resident is 34 years old with a yearly income of $24,836. The average family has 3.43 members and a median household income of $41,228. Memphis has a 26% higher education rate. The unemployment rate in Memphis is 8.7%.


Population
651,073 people

County
Shelby County

Renters

53.4% of Memphis households are renters.


Rent Burden

36.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Shelby County 1
Tennessee 2
National 2
Studio $732 $618 $737
1 bedroom $836 $657 $813
2 bedroom $972 $813 $1,015
3 bedroom $1,311 $1,073 $1,325
4 bedroom $1,507 $1,248 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Memphis Demographics


Median Individual Income
$24,836 / year

Median Household Income
$41,228 / year

Families w/ Dual Incomes
44%

Unemployment Rate
8.7%
Household Income Distribution
Memphis, TN

Median Age
34 years

Avg Family Size
3.43 people
Age Distribution
Memphis, TN

College Education or Above
26%

STEM College Graduates
39%
Education Distribution
Memphis, TN
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day