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Multifamily Loans in
Ellensburg, WA

Overview

Ellensburg is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Ellensburg are considered greater risk due to market dynamics. Interest rates for multifamily loans in Ellensburg are higher than the national average. Ellensburg apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Ellensburg.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Ellensburg, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ellensburg 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 3.73% - 3.97%
7 Year Fixed 3.54% - 3.78%
10 Year Fixed 3.78% - 4.02%
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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Ellensburg 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 Ellensburg, WA

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


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 08, 2021


Ellensburg Market

The city of Ellensburg in Kittitas County has a population of 21,111. The median rent in Kittitas County for a 2 bedroom is $1,042. The median Ellensburg resident is 24 years old with a yearly income of $15,787. The average family has 3.11 members and a median household income of $39,645. Ellensburg has a 38% higher education rate. The unemployment rate in Ellensburg is 7.4%.


Population
21,111 people

County
Kittitas County

Renters

65.6% of Ellensburg households are renters.


Rent Burden

46% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kittitas County 1
Washington 2
National 2
Studio $687 $801 $737
1 bedroom $791 $904 $813
2 bedroom $1,042 $1,138 $1,015
3 bedroom $1,491 $1,591 $1,325
4 bedroom $1,804 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ellensburg Demographics


Median Individual Income
$15,787 / year

Median Household Income
$39,645 / year

Families w/ Dual Incomes
60%

Unemployment Rate
7.4%
Household Income Distribution
Ellensburg, WA

Median Age
24 years

Avg Family Size
3.11 people
Age Distribution
Ellensburg, WA

College Education or Above
38%

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

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