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Multifamily Loans in
Fairbanks, AK

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Fairbanks, AK

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fairbanks 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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Fairbanks 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 04, 2021


Multifamily Lenders in Fairbanks, AK

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


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 04, 2021


Fairbanks Market

The city of Fairbanks in Fairbanks North Star Borough has a population of 30,917. The median rent in Fairbanks North Star Borough for a 2 bedroom is $1,380. The median Fairbanks resident is 28 years old with a yearly income of $31,494. The average family has 3.22 members and a median household income of $62,602. Fairbanks has a 27% higher education rate. The unemployment rate in Fairbanks is 7.7%.


Population
30,917 people

County
Fairbanks North Star Borough

Renters

64.2% of Fairbanks households are renters.


Rent Burden

31.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Fairbanks North Star Borough 1
Alaska 2
National 2
Studio $911 $908 $737
1 bedroom $1,047 $1,012 $813
2 bedroom $1,380 $1,281 $1,015
3 bedroom $1,975 $1,685 $1,325
4 bedroom $2,389 $1,938 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fairbanks Demographics


Median Individual Income
$31,494 / year

Median Household Income
$62,602 / year

Families w/ Dual Incomes
52%

Unemployment Rate
7.7%
Household Income Distribution
Fairbanks, AK

Median Age
28 years

Avg Family Size
3.22 people
Age Distribution
Fairbanks, AK

College Education or Above
27%

STEM College Graduates
45%
Education Distribution
Fairbanks, AK
Source: U.S. Census Bureau

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