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Multifamily Loans in
Des Moines, IA

Overview

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

Get multifamily loan quotes for May 09, 2024


Multifamily Loan Rates in Des Moines, IA

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

Fannie Mae®
$1M to $6M
5 Year Fixed 7.07% - 7.81%
7 Year Fixed 6.96% - 7.47%
10 Year Fixed 6.90% - 7.30%
Freddie Mac®
$1M to $6M
5 Year Fixed 7.23% - 7.47%
7 Year Fixed 6.84% - 7.08%
10 Year Fixed 6.73% - 6.97%
Fannie Mae®
$6M to $100M
5 Year Fixed 6.87% - 7.61%
7 Year Fixed 6.76% - 7.27%
10 Year Fixed 6.70% - 7.10%
Freddie Mac®
$6M to $100M
5 Year Fixed 6.25% - 6.35%
7 Year Fixed 6.26% - 6.36%
10 Year Fixed 6.19% - 6.39%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 05/08/2024. This is not an offer or commitment to lend. Multifamily loan rates in Des Moines 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 May 09, 2024


Multifamily Lenders in Des Moines, IA

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


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 May 09, 2024


Des Moines Market

The city of Des Moines in Polk County has a population of 214,237. The median rent in Polk County for a 2 bedroom is $957. The median Des Moines resident is 34 years old with a yearly income of $30,412. The average family has 3.21 members and a median household income of $53,525. Des Moines has a 27% higher education rate. The unemployment rate in Des Moines is 5.8%.


Population
214,237 people

County
Polk County

Renters

39.9% of Des Moines households are renters.


Rent Burden

30.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Polk County 1
Iowa 2
National 2
Studio $645 $558 $737
1 bedroom $783 $613 $813
2 bedroom $957 $785 $1,015
3 bedroom $1,308 $1,038 $1,325
4 bedroom $1,393 $1,151 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Des Moines Demographics


Median Individual Income
$30,412 / year

Median Household Income
$53,525 / year

Families w/ Dual Incomes
56%

Unemployment Rate
5.8%
Household Income Distribution
Des Moines, IA

Median Age
34 years

Avg Family Size
3.21 people
Age Distribution
Des Moines, IA

College Education or Above
27%

STEM College Graduates
39%
Education Distribution
Des Moines, IA
Source: U.S. Census Bureau

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