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Multifamily Loans in
Sherman, TX

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Sherman, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Sherman 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.73% - 3.97%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Sherman 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 03, 2021


Multifamily Lenders in Sherman, TX

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


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 03, 2021


Sherman Market

The city of Sherman in Grayson County has a population of 44,002. The median rent in Grayson County for a 2 bedroom is $1,010. The median Sherman resident is 35 years old with a yearly income of $25,533. The average family has 3.43 members and a median household income of $47,397. Sherman has a 21% higher education rate. The unemployment rate in Sherman is 3.7%.


Population
44,002 people

County
Grayson County

Renters

46.4% of Sherman households are renters.


Rent Burden

30.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Grayson County 1
Texas 2
National 2
Studio $696 $669 $737
1 bedroom $834 $738 $813
2 bedroom $1,010 $912 $1,015
3 bedroom $1,361 $1,210 $1,325
4 bedroom $1,534 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Sherman Demographics


Median Individual Income
$25,533 / year

Median Household Income
$47,397 / year

Families w/ Dual Incomes
52%

Unemployment Rate
3.7%
Household Income Distribution
Sherman, TX

Median Age
35 years

Avg Family Size
3.43 people
Age Distribution
Sherman, TX

College Education or Above
21%

STEM College Graduates
37%
Education Distribution
Sherman, TX
Source: U.S. Census Bureau

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