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Multifamily Loans in
Tyler, TX

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Tyler, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Tyler 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 3.16% - 3.41%
7 Year Fixed 3.40% - 3.85%
10 Year Fixed 3.38% - 3.78%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/28/2021. This is not an offer or commitment to lend. Multifamily loan rates in Tyler 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 Nov 29, 2021


Multifamily Lenders in Tyler, TX

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


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 Nov 29, 2021


Tyler Market

The city of Tyler in Smith County has a population of 106,985. The median rent in Smith County for a 2 bedroom is $1,151. The median Tyler resident is 34 years old with a yearly income of $26,511. The average family has 3.46 members and a median household income of $52,932. Tyler has a 29% higher education rate. The unemployment rate in Tyler is 5.5%.


Population
106,985 people

County
Smith County

Renters

47.1% of Tyler households are renters.


Rent Burden

29.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Smith County 1
Texas 2
National 2
Studio $951 $669 $737
1 bedroom $954 $738 $813
2 bedroom $1,151 $912 $1,015
3 bedroom $1,446 $1,210 $1,325
4 bedroom $1,882 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Tyler Demographics


Median Individual Income
$26,511 / year

Median Household Income
$52,932 / year

Families w/ Dual Incomes
50%

Unemployment Rate
5.5%
Household Income Distribution
Tyler, TX

Median Age
34 years

Avg Family Size
3.46 people
Age Distribution
Tyler, TX

College Education or Above
29%

STEM College Graduates
38%
Education Distribution
Tyler, TX
Source: U.S. Census Bureau

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