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Multifamily Loans in
Cottonwood Heights, UT

Overview

Cottonwood Heights is located in a good market for 5+ unit multifamily loans. Multifamily loans in Cottonwood Heights are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Cottonwood Heights are competitive. Cottonwood Heights 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 Cottonwood Heights.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Cottonwood Heights, UT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cottonwood Heights 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 $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.52% - 3.76%
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®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
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 Cottonwood Heights 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 Cottonwood Heights, UT

All major multifamily lender types are lending in Cottonwood Heights.


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 02, 2021


Cottonwood Heights Market

The city of Cottonwood Heights in Salt Lake County has a population of 33,843. The median rent in Salt Lake County for a 2 bedroom is $1,291. The median Cottonwood Heights resident is 39 years old with a yearly income of $42,279. The average family has 3.19 members and a median household income of $93,564. Cottonwood Heights has a 53% higher education rate. The unemployment rate in Cottonwood Heights is 3.0%.


Population
33,843 people

County
Salt Lake County

Renters

27% of Cottonwood Heights households are renters.


Rent Burden

24% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Salt Lake County 1
Utah 2
National 2
Studio $889 $659 $737
1 bedroom $1,073 $743 $813
2 bedroom $1,291 $922 $1,015
3 bedroom $1,812 $1,250 $1,325
4 bedroom $2,029 $1,497 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cottonwood Heights Demographics


Median Individual Income
$42,279 / year

Median Household Income
$93,564 / year

Families w/ Dual Incomes
64%

Unemployment Rate
3.0%
Household Income Distribution
Cottonwood Heights, UT

Median Age
39 years

Avg Family Size
3.19 people
Age Distribution
Cottonwood Heights, UT

College Education or Above
53%

STEM College Graduates
49%
Education Distribution
Cottonwood Heights, UT
Source: U.S. Census Bureau

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