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Multifamily Loans in
Mill Creek East, WA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Mill Creek East, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mill Creek East 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 Mill Creek East 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 Mill Creek East, WA

All major multifamily lender types are lending in Mill Creek East.


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


Mill Creek East Market

The city of Mill Creek East in Snohomish County has a population of 24,291. The median rent in Snohomish County for a 2 bedroom is $2,076. The median Mill Creek East resident is 35 years old with a yearly income of $57,320. The average family has 3.42 members and a median household income of $133,794. Mill Creek East has a 52% higher education rate. The unemployment rate in Mill Creek East is 3.4%.


Population
24,291 people

County
Snohomish County

Renters

19% of Mill Creek East households are renters.


Rent Burden

30.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Snohomish 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

Mill Creek East Demographics


Median Individual Income
$57,320 / year

Median Household Income
$133,794 / year

Families w/ Dual Incomes
65%

Unemployment Rate
3.4%
Household Income Distribution
Mill Creek East, WA

Median Age
35 years

Avg Family Size
3.42 people
Age Distribution
Mill Creek East, WA

College Education or Above
52%

STEM College Graduates
58%
Education Distribution
Mill Creek East, WA
Source: U.S. Census Bureau

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