Fountain is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Fountain are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Fountain are slightly higher than the national average. Fountain 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 Fountain.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fountain are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.58% - 6.82% |
| 7 Year Fixed | 6.34% - 6.58% |
| 10 Year Fixed | 6.33% - 6.57% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.74% - 5.84% |
| 7 Year Fixed | 5.79% - 5.89% |
| 10 Year Fixed | 5.77% - 5.87% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Fountain.
The city of Fountain in El Paso County has a population of 30,735. The median rent in El Paso County for a 2 bedroom is $1,306. The median Fountain resident is 30 years old with a yearly income of $33,497. The average family has 3.44 members and a median household income of $64,582. Fountain has a 20% higher education rate. The unemployment rate in Fountain is 6.8%.
35% of Fountain households are renters.
31.2% median household income spent on rent.
Bedrooms |
El Paso County 1 |
Colorado 2 |
National 2 |
|---|---|---|---|
| Studio | $867 | $873 | $737 |
| 1 bedroom | $1,033 | $932 | $813 |
| 2 bedroom | $1,306 | $1,168 | $1,015 |
| 3 bedroom | $1,869 | $1,570 | $1,325 |
| 4 bedroom | $2,261 | $1,825 | $1,521 |
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