Bountiful is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Bountiful are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Bountiful are slightly higher than the national average. Bountiful 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 Bountiful.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bountiful are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.53% - 6.77% |
| 7 Year Fixed | 6.24% - 6.48% |
| 10 Year Fixed | 6.33% - 6.57% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.74% - 5.84% |
| 7 Year Fixed | 5.79% - 5.89% |
| 10 Year Fixed | 5.77% - 5.87% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Bountiful.
The city of Bountiful in Davis County has a population of 43,981. The median rent in Davis County for a 2 bedroom is $1,085. The median Bountiful resident is 33 years old with a yearly income of $33,850. The average family has 3.52 members and a median household income of $77,823. Bountiful has a 45% higher education rate. The unemployment rate in Bountiful is 1.9%.
24.9% of Bountiful households are renters.
25.5% median household income spent on rent.
Bedrooms |
Davis County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $766 | $659 | $737 |
| 1 bedroom | $863 | $743 | $813 |
| 2 bedroom | $1,085 | $922 | $1,015 |
| 3 bedroom | $1,522 | $1,250 | $1,325 |
| 4 bedroom | $1,814 | $1,497 | $1,521 |
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