Kearns is located in a good market for 5+ unit multifamily loans. Multifamily loans in Kearns are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Kearns are competitive. Kearns 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 Kearns.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kearns are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.93% - 6.08% |
| 7 Year Fixed | 5.99% - 6.14% |
| 10 Year Fixed | 5.99% - 6.14% |
All major multifamily lender types are lending in Kearns.
The city of Kearns in Salt Lake County has a population of 36,330. The median rent in Salt Lake County for a 2 bedroom is $1,291. The median Kearns resident is 28 years old with a yearly income of $28,737. The average family has 4.12 members and a median household income of $64,337. Kearns has a 11% higher education rate. The unemployment rate in Kearns is 4.6%.
20% of Kearns households are renters.
35.1% median household income spent on rent.
Bedrooms |
Salt Lake County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $889 | $659 | $737 |
| 1 bedroom | $1,073 | $743 | $813 |
| 2 bedroom | $1,291 | $922 | $1,015 |
| 3 bedroom | $1,812 | $1,250 | $1,325 |
| 4 bedroom | $2,029 | $1,497 | $1,521 |
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