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Multifamily Loans in
Moses Lake, WA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Moses Lake, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Moses Lake 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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Moses Lake 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 Moses Lake, WA

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


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


Moses Lake Market

The city of Moses Lake in Grant County has a population of 24,086. The median rent in Grant County for a 2 bedroom is $870. The median Moses Lake resident is 32 years old with a yearly income of $25,940. The average family has 3.52 members and a median household income of $51,272. Moses Lake has a 22% higher education rate. The unemployment rate in Moses Lake is 6.0%.


Population
24,086 people

County
Grant County

Renters

44.5% of Moses Lake households are renters.


Rent Burden

28.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Grant County 1
Washington 2
National 2
Studio $574 $801 $737
1 bedroom $704 $904 $813
2 bedroom $870 $1,138 $1,015
3 bedroom $1,245 $1,591 $1,325
4 bedroom $1,375 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Moses Lake Demographics


Median Individual Income
$25,940 / year

Median Household Income
$51,272 / year

Families w/ Dual Incomes
47%

Unemployment Rate
6.0%
Household Income Distribution
Moses Lake, WA

Median Age
32 years

Avg Family Size
3.52 people
Age Distribution
Moses Lake, WA

College Education or Above
22%

STEM College Graduates
36%
Education Distribution
Moses Lake, WA
Source: U.S. Census Bureau

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