Eagle Mountain is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Eagle Mountain are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Eagle Mountain are slightly higher than the national average. Eagle Mountain 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 Eagle Mountain.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Eagle Mountain 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 | 7.18% - 7.42% |
| 7 Year Fixed | 6.72% - 6.96% |
| 10 Year Fixed | 6.78% - 7.02% |
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% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Eagle Mountain.
The city of Eagle Mountain in Utah County has a population of 38,391. The median rent in Utah County for a 2 bedroom is $996. The median Eagle Mountain resident is 20 years old with a yearly income of $36,630. The average family has 4.41 members and a median household income of $83,290. Eagle Mountain has a 33% higher education rate. The unemployment rate in Eagle Mountain is 3.0%.
12.5% of Eagle Mountain households are renters.
26.4% median household income spent on rent.
Bedrooms |
Utah County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $819 | $659 | $737 |
| 1 bedroom | $874 | $743 | $813 |
| 2 bedroom | $996 | $922 | $1,015 |
| 3 bedroom | $1,425 | $1,250 | $1,325 |
| 4 bedroom | $1,724 | $1,497 | $1,521 |
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