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Multifamily Loans in
Mountlake Terrace, WA

Overview

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.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Mountlake Terrace, WA

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 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 Mountlake Terrace 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 Mountlake Terrace, WA

All major multifamily lender types are lending in Mountlake Terrace.


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


Mountlake Terrace Market

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%.


Population
21,338 people

County
Snohomish County

Renters

46.5% of Mountlake Terrace households are renters.


Rent Burden

31.5% 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

Mountlake Terrace Demographics


Median Individual Income
$38,872 / year

Median Household Income
$72,955 / year

Families w/ Dual Incomes
54%

Unemployment Rate
3.6%
Household Income Distribution
Mountlake Terrace, WA

Median Age
37 years

Avg Family Size
2.97 people
Age Distribution
Mountlake Terrace, WA

College Education or Above
36%

STEM College Graduates
49%
Education Distribution
Mountlake Terrace, WA
Source: U.S. Census Bureau

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