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Multifamily Loans in
Shelbyville, TN

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Shelbyville, TN

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

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


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


Shelbyville Market

The city of Shelbyville in Bedford County has a population of 22,101. The median rent in Bedford County for a 2 bedroom is $832. The median Shelbyville resident is 33 years old with a yearly income of $23,394. The average family has 3.41 members and a median household income of $41,716. Shelbyville has a 11% higher education rate. The unemployment rate in Shelbyville is 5.3%.


Population
22,101 people

County
Bedford County

Renters

53.4% of Shelbyville households are renters.


Rent Burden

26% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Bedford County 1
Tennessee 2
National 2
Studio $627 $618 $737
1 bedroom $631 $657 $813
2 bedroom $832 $813 $1,015
3 bedroom $1,035 $1,073 $1,325
4 bedroom $1,224 $1,248 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Shelbyville Demographics


Median Individual Income
$23,394 / year

Median Household Income
$41,716 / year

Families w/ Dual Incomes
51%

Unemployment Rate
5.3%
Household Income Distribution
Shelbyville, TN

Median Age
33 years

Avg Family Size
3.41 people
Age Distribution
Shelbyville, TN

College Education or Above
11%

STEM College Graduates
36%
Education Distribution
Shelbyville, TN
Source: U.S. Census Bureau

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