Mountlake Terrace is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Mountlake Terrace are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Mountlake Terrace are some of the lowest nationally. Mountlake Terrace 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 Mountlake Terrace.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mountlake Terrace are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.38% - 7.12% |
| 7 Year Fixed | 6.40% - 6.91% |
| 10 Year Fixed | 6.45% - 6.85% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.12% - 6.36% |
| 7 Year Fixed | 6.05% - 6.29% |
| 10 Year Fixed | 6.14% - 6.38% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.18% - 6.92% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.25% - 6.65% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Mountlake Terrace.
The city of Mountlake Terrace in Snohomish County has a population of 21,338. The median rent in Snohomish County for a 2 bedroom is $2,076. The median Mountlake Terrace resident is 37 years old with a yearly income of $38,872. The average family has 2.97 members and a median household income of $72,955. Mountlake Terrace has a 36% higher education rate. The unemployment rate in Mountlake Terrace is 3.6%.
46.5% of Mountlake Terrace households are renters.
31.5% median household income spent on rent.
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 |
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