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Multifamily Loans in
Grants Pass, OR

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Grants Pass, OR

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Grants Pass 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 Grants Pass 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 Grants Pass, OR

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


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


Grants Pass Market

The city of Grants Pass in Josephine County has a population of 38,170. The median rent in Josephine County for a 2 bedroom is $1,168. The median Grants Pass resident is 40 years old with a yearly income of $23,269. The average family has 2.86 members and a median household income of $44,185. Grants Pass has a 16% higher education rate. The unemployment rate in Grants Pass is 6.4%.


Population
38,170 people

County
Josephine County

Renters

49.9% of Grants Pass households are renters.


Rent Burden

36.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Josephine County 1
Oregon 2
National 2
Studio $864 $786 $737
1 bedroom $886 $891 $813
2 bedroom $1,168 $1,112 $1,015
3 bedroom $1,672 $1,569 $1,325
4 bedroom $2,022 $1,853 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Grants Pass Demographics


Median Individual Income
$23,269 / year

Median Household Income
$44,185 / year

Families w/ Dual Incomes
46%

Unemployment Rate
6.4%
Household Income Distribution
Grants Pass, OR

Median Age
40 years

Avg Family Size
2.86 people
Age Distribution
Grants Pass, OR

College Education or Above
16%

STEM College Graduates
46%
Education Distribution
Grants Pass, OR
Source: U.S. Census Bureau

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