Denison is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Denison are considered greater risk due to market dynamics. Interest rates for multifamily loans in Denison are higher than the national average. Denison 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 Denison.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Denison are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.28% - 5.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Denison.
The city of Denison in Grayson County has a population of 25,529. The median rent in Grayson County for a 2 bedroom is $1,010. The median Denison resident is 39 years old with a yearly income of $25,999. The average family has 3.28 members and a median household income of $43,586. Denison has a 17% higher education rate. The unemployment rate in Denison is 7.4%.
39.4% of Denison households are renters.
30.6% median household income spent on rent.
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 |
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