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Multifamily Loans in
Federal Way, WA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Federal Way, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Federal Way 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 Federal Way 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 Federal Way, WA

All major multifamily lender types are lending in Federal Way.


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


Federal Way Market

The city of Federal Way in King County has a population of 96,289. The median rent in King County for a 2 bedroom is $2,076. The median Federal Way resident is 36 years old with a yearly income of $34,960. The average family has 3.28 members and a median household income of $67,347. Federal Way has a 27% higher education rate. The unemployment rate in Federal Way is 5.6%.


Population
96,289 people

County
King County

Renters

44.2% of Federal Way households are renters.


Rent Burden

32.8% 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

Federal Way Demographics


Median Individual Income
$34,960 / year

Median Household Income
$67,347 / year

Families w/ Dual Incomes
55%

Unemployment Rate
5.6%
Household Income Distribution
Federal Way, WA

Median Age
36 years

Avg Family Size
3.28 people
Age Distribution
Federal Way, WA

College Education or Above
27%

STEM College Graduates
45%
Education Distribution
Federal Way, WA
Source: U.S. Census Bureau

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