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Multifamily Loans in
Bainbridge Island, WA

Overview

Bainbridge Island is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Bainbridge Island are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Bainbridge Island are slightly higher than the national average. Bainbridge Island apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Bainbridge Island.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Bainbridge Island, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bainbridge Island 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 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Bainbridge Island 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 05, 2021


Multifamily Lenders in Bainbridge Island, WA

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


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 05, 2021


Bainbridge Island Market

The city of Bainbridge Island in Kitsap County has a population of 25,298. The median rent in Kitsap County for a 2 bedroom is $1,587. The median Bainbridge Island resident is 50 years old with a yearly income of $54,297. The average family has 2.85 members and a median household income of $117,990. Bainbridge Island has a 72% higher education rate. The unemployment rate in Bainbridge Island is 3.1%.


Population
25,298 people

County
Kitsap County

Renters

20.6% of Bainbridge Island households are renters.


Rent Burden

25.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kitsap County 1
Washington 2
National 2
Studio $1,047 $801 $737
1 bedroom $1,225 $904 $813
2 bedroom $1,587 $1,138 $1,015
3 bedroom $2,226 $1,591 $1,325
4 bedroom $2,573 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Bainbridge Island Demographics


Median Individual Income
$54,297 / year

Median Household Income
$117,990 / year

Families w/ Dual Incomes
50%

Unemployment Rate
3.1%
Household Income Distribution
Bainbridge Island, WA

Median Age
50 years

Avg Family Size
2.85 people
Age Distribution
Bainbridge Island, WA

College Education or Above
72%

STEM College Graduates
50%
Education Distribution
Bainbridge Island, WA
Source: U.S. Census Bureau

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