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Multifamily Loans in
Des Moines, WA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Des Moines, WA

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 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 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 Dec 08, 2021


Multifamily Lenders in Des Moines, WA

All major multifamily lender types are lending in Des Moines.


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


Des Moines Market

The city of Des Moines in King County has a population of 32,348. The median rent in King County for a 2 bedroom is $2,076. The median Des Moines resident is 41 years old with a yearly income of $36,148. The average family has 3.09 members and a median household income of $70,222. Des Moines has a 27% higher education rate. The unemployment rate in Des Moines is 6.0%.


Population
32,348 people

County
King County

Renters

39% of Des Moines households are renters.


Rent Burden

31.5% 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

Des Moines Demographics


Median Individual Income
$36,148 / year

Median Household Income
$70,222 / year

Families w/ Dual Incomes
53%

Unemployment Rate
6.0%
Household Income Distribution
Des Moines, WA

Median Age
41 years

Avg Family Size
3.09 people
Age Distribution
Des Moines, WA

College Education or Above
27%

STEM College Graduates
48%
Education Distribution
Des Moines, WA
Source: U.S. Census Bureau

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