Loading...

Multifamily Loans in
Kennewick, WA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Kennewick, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kennewick 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 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
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 Kennewick 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 Kennewick, WA

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


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


Kennewick Market

The city of Kennewick in Benton County has a population of 84,347. The median rent in Benton County for a 2 bedroom is $1,072. The median Kennewick resident is 34 years old with a yearly income of $29,944. The average family has 3.34 members and a median household income of $59,533. Kennewick has a 26% higher education rate. The unemployment rate in Kennewick is 6.0%.


Population
84,347 people

County
Benton County

Renters

36.7% of Kennewick households are renters.


Rent Burden

33.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Benton County 1
Washington 2
National 2
Studio $714 $801 $737
1 bedroom $867 $904 $813
2 bedroom $1,072 $1,138 $1,015
3 bedroom $1,450 $1,591 $1,325
4 bedroom $1,811 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Kennewick Demographics


Median Individual Income
$29,944 / year

Median Household Income
$59,533 / year

Families w/ Dual Incomes
47%

Unemployment Rate
6.0%
Household Income Distribution
Kennewick, WA

Median Age
34 years

Avg Family Size
3.34 people
Age Distribution
Kennewick, WA

College Education or Above
26%

STEM College Graduates
46%
Education Distribution
Kennewick, WA
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