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Multifamily Loans in
Burien, WA

Overview

Burien is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Burien are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Burien are some of the lowest nationally. Burien 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 Burien.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Burien, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Burien are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.15% - 3.39%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.23% - 3.63%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Burien 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 08, 2021


Multifamily Lenders in Burien, WA

All major multifamily lender types are lending in Burien.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


Burien Market

The city of Burien in King County has a population of 51,500. The median rent in King County for a 2 bedroom is $2,076. The median Burien resident is 38 years old with a yearly income of $32,585. The average family has 3.26 members and a median household income of $67,402. Burien has a 28% higher education rate. The unemployment rate in Burien is 5.6%.


Population
51,500 people

County
King County

Renters

45.1% of Burien households are renters.


Rent Burden

33.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
King County 1
Washington 2
National 2
Studio $1,659 $801 $737
1 bedroom $1,741 $904 $813
2 bedroom $2,076 $1,138 $1,015
3 bedroom $2,903 $1,591 $1,325
4 bedroom $3,421 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Burien Demographics


Median Individual Income
$32,585 / year

Median Household Income
$67,402 / year

Families w/ Dual Incomes
57%

Unemployment Rate
5.6%
Household Income Distribution
Burien, WA

Median Age
38 years

Avg Family Size
3.26 people
Age Distribution
Burien, WA

College Education or Above
28%

STEM College Graduates
47%
Education Distribution
Burien, WA
Source: U.S. Census Bureau

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