Bonney Lake is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Bonney Lake are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Bonney Lake are some of the lowest nationally. Bonney Lake apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Bonney Lake.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bonney Lake are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.74% - 7.48% |
| 7 Year Fixed | 6.70% - 7.21% |
| 10 Year Fixed | 6.71% - 7.11% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.77% - 7.01% |
| 7 Year Fixed | 6.55% - 6.79% |
| 10 Year Fixed | 6.59% - 6.83% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.54% - 7.28% |
| 7 Year Fixed | 6.50% - 7.01% |
| 10 Year Fixed | 6.51% - 6.91% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Bonney Lake.
The city of Bonney Lake in Pierce County has a population of 21,148. The median rent in Pierce County for a 2 bedroom is $1,572. The median Bonney Lake resident is 35 years old with a yearly income of $44,112. The average family has 3.27 members and a median household income of $97,055. Bonney Lake has a 26% higher education rate. The unemployment rate in Bonney Lake is 2.3%.
19.3% of Bonney Lake households are renters.
29.7% median household income spent on rent.
Bedrooms |
Pierce County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $1,088 | $801 | $737 |
| 1 bedroom | $1,212 | $904 | $813 |
| 2 bedroom | $1,572 | $1,138 | $1,015 |
| 3 bedroom | $2,250 | $1,591 | $1,325 |
| 4 bedroom | $2,722 | $1,874 | $1,521 |
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