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Multifamily Loans in
Grand Junction, CO

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Grand Junction, CO

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Grand Junction 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 3.73% - 3.97%
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 Grand Junction 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 Grand Junction, CO

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


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


Grand Junction Market

The city of Grand Junction in Mesa County has a population of 63,597. The median rent in Mesa County for a 2 bedroom is $1,088. The median Grand Junction resident is 37 years old with a yearly income of $27,401. The average family has 2.94 members and a median household income of $52,504. Grand Junction has a 35% higher education rate. The unemployment rate in Grand Junction is 6.9%.


Population
63,597 people

County
Mesa County

Renters

41.9% of Grand Junction households are renters.


Rent Burden

33.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Mesa County 1
Colorado 2
National 2
Studio $720 $873 $737
1 bedroom $826 $932 $813
2 bedroom $1,088 $1,168 $1,015
3 bedroom $1,557 $1,570 $1,325
4 bedroom $1,884 $1,825 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Grand Junction Demographics


Median Individual Income
$27,401 / year

Median Household Income
$52,504 / year

Families w/ Dual Incomes
52%

Unemployment Rate
6.9%
Household Income Distribution
Grand Junction, CO

Median Age
37 years

Avg Family Size
2.94 people
Age Distribution
Grand Junction, CO

College Education or Above
35%

STEM College Graduates
45%
Education Distribution
Grand Junction, CO
Source: U.S. Census Bureau

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