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Multifamily Loans in
Olympia, WA

Overview

Olympia is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Olympia are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Olympia are slightly higher than the national average. Olympia apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Olympia.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Olympia, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Olympia 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 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Olympia 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 05, 2021


Multifamily Lenders in Olympia, WA

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


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 05, 2021


Olympia Market

The city of Olympia in Thurston County has a population of 52,882. The median rent in Thurston County for a 2 bedroom is $1,324. The median Olympia resident is 38 years old with a yearly income of $32,875. The average family has 2.83 members and a median household income of $59,878. Olympia has a 44% higher education rate. The unemployment rate in Olympia is 5.3%.


Population
52,882 people

County
Thurston County

Renters

53% of Olympia households are renters.


Rent Burden

33.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Thurston County 1
Washington 2
National 2
Studio $1,089 $801 $737
1 bedroom $1,095 $904 $813
2 bedroom $1,324 $1,138 $1,015
3 bedroom $1,895 $1,591 $1,325
4 bedroom $2,292 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Olympia Demographics


Median Individual Income
$32,875 / year

Median Household Income
$59,878 / year

Families w/ Dual Incomes
48%

Unemployment Rate
5.3%
Household Income Distribution
Olympia, WA

Median Age
38 years

Avg Family Size
2.83 people
Age Distribution
Olympia, WA

College Education or Above
44%

STEM College Graduates
50%
Education Distribution
Olympia, WA
Source: U.S. Census Bureau

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