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Multifamily Loans in
Mercer Island, WA

Overview

Mercer Island is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Mercer Island are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Mercer Island are some of the lowest nationally. Mercer Island 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 Mercer Island.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Mercer Island, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mercer Island are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.15% - 3.39%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.23% - 3.63%
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 Mercer Island 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 Mercer Island, WA

All major multifamily lender types are lending in Mercer Island.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


Mercer Island Market

The city of Mercer Island in King County has a population of 25,894. The median rent in King County for a 2 bedroom is $2,076. The median Mercer Island resident is 46 years old with a yearly income of $70,156. The average family has 2.99 members and a median household income of $147,566. Mercer Island has a 78% higher education rate. The unemployment rate in Mercer Island is 4.0%.


Population
25,894 people

County
King County

Renters

31.3% of Mercer Island households are renters.


Rent Burden

29.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
King County 1
Washington 2
National 2
Studio $1,659 $801 $737
1 bedroom $1,741 $904 $813
2 bedroom $2,076 $1,138 $1,015
3 bedroom $2,903 $1,591 $1,325
4 bedroom $3,421 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Mercer Island Demographics


Median Individual Income
$70,156 / year

Median Household Income
$147,566 / year

Families w/ Dual Incomes
58%

Unemployment Rate
4.0%
Household Income Distribution
Mercer Island, WA

Median Age
46 years

Avg Family Size
2.99 people
Age Distribution
Mercer Island, WA

College Education or Above
78%

STEM College Graduates
55%
Education Distribution
Mercer Island, WA
Source: U.S. Census Bureau

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