Loading...

Multifamily Loans in
Garden City, KS

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Garden City, KS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Garden City 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Garden City 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 Garden City, KS

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


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


Garden City Market

The city of Garden City in Finney County has a population of 26,408. The median rent in Finney County for a 2 bedroom is $828. The median Garden City resident is 31 years old with a yearly income of $30,262. The average family has 3.48 members and a median household income of $55,987. Garden City has a 17% higher education rate. The unemployment rate in Garden City is 3.9%.


Population
26,408 people

County
Finney County

Renters

40.3% of Garden City households are renters.


Rent Burden

22.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Finney County 1
Kansas 2
National 2
Studio $626 $581 $737
1 bedroom $631 $612 $813
2 bedroom $828 $781 $1,015
3 bedroom $1,067 $1,027 $1,325
4 bedroom $1,188 $1,166 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Garden City Demographics


Median Individual Income
$30,262 / year

Median Household Income
$55,987 / year

Families w/ Dual Incomes
63%

Unemployment Rate
3.9%
Household Income Distribution
Garden City, KS

Median Age
31 years

Avg Family Size
3.48 people
Age Distribution
Garden City, KS

College Education or Above
17%

STEM College Graduates
36%
Education Distribution
Garden City, KS
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day