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Multifamily Loans in
Murfreesboro, TN

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Murfreesboro, TN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Murfreesboro 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 Murfreesboro 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 Murfreesboro, TN

All major multifamily lender types are lending in Murfreesboro.


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


Murfreesboro Market

The city of Murfreesboro in Rutherford County has a population of 146,900. The median rent in Rutherford County for a 2 bedroom is $1,293. The median Murfreesboro resident is 30 years old with a yearly income of $30,349. The average family has 3.17 members and a median household income of $62,003. Murfreesboro has a 40% higher education rate. The unemployment rate in Murfreesboro is 5.1%.


Population
146,900 people

County
Rutherford County

Renters

47.7% of Murfreesboro households are renters.


Rent Burden

28.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Rutherford County 1
Tennessee 2
National 2
Studio $1,078 $618 $737
1 bedroom $1,114 $657 $813
2 bedroom $1,293 $813 $1,015
3 bedroom $1,663 $1,073 $1,325
4 bedroom $2,085 $1,248 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Murfreesboro Demographics


Median Individual Income
$30,349 / year

Median Household Income
$62,003 / year

Families w/ Dual Incomes
61%

Unemployment Rate
5.1%
Household Income Distribution
Murfreesboro, TN

Median Age
30 years

Avg Family Size
3.17 people
Age Distribution
Murfreesboro, TN

College Education or Above
40%

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

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