Loading...

Multifamily Loans in
Colorado Springs, CO

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Colorado Springs, CO

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Colorado Springs 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% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.56% - 3.80%
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 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Colorado Springs 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 04, 2021


Multifamily Lenders in Colorado Springs, CO

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


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 04, 2021


Colorado Springs Market

The city of Colorado Springs in El Paso County has a population of 478,221. The median rent in El Paso County for a 2 bedroom is $1,306. The median Colorado Springs resident is 35 years old with a yearly income of $32,215. The average family has 3.1 members and a median household income of $64,712. Colorado Springs has a 40% higher education rate. The unemployment rate in Colorado Springs is 5.7%.


Population
478,221 people

County
El Paso County

Renters

41% of Colorado Springs households are renters.


Rent Burden

31.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
El Paso County 1
Colorado 2
National 2
Studio $867 $873 $737
1 bedroom $1,033 $932 $813
2 bedroom $1,306 $1,168 $1,015
3 bedroom $1,869 $1,570 $1,325
4 bedroom $2,261 $1,825 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Colorado Springs Demographics


Median Individual Income
$32,215 / year

Median Household Income
$64,712 / year

Families w/ Dual Incomes
54%

Unemployment Rate
5.7%
Household Income Distribution
Colorado Springs, CO

Median Age
35 years

Avg Family Size
3.1 people
Age Distribution
Colorado Springs, CO

College Education or Above
40%

STEM College Graduates
47%
Education Distribution
Colorado Springs, CO
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day