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Multifamily Loans in
Clearfield, UT

Overview

Clearfield is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Clearfield are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Clearfield are slightly higher than the national average. Clearfield 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 Clearfield.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Clearfield, UT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Clearfield 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 3.10% - 3.35%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Clearfield 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 02, 2021


Multifamily Lenders in Clearfield, UT

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


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 02, 2021


Clearfield Market

The city of Clearfield in Davis County has a population of 32,118. The median rent in Davis County for a 2 bedroom is $1,085. The median Clearfield resident is 28 years old with a yearly income of $29,044. The average family has 3.76 members and a median household income of $60,260. Clearfield has a 22% higher education rate. The unemployment rate in Clearfield is 3.2%.


Population
32,118 people

County
Davis County

Renters

43.8% of Clearfield households are renters.


Rent Burden

29.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Clearfield Demographics


Median Individual Income
$29,044 / year

Median Household Income
$60,260 / year

Families w/ Dual Incomes
62%

Unemployment Rate
3.2%
Household Income Distribution
Clearfield, UT

Median Age
28 years

Avg Family Size
3.76 people
Age Distribution
Clearfield, UT

College Education or Above
22%

STEM College Graduates
40%
Education Distribution
Clearfield, UT
Source: U.S. Census Bureau

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