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Multifamily Loans in
Pasco, WA

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Pasco, WA

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

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


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


Pasco Market

The city of Pasco in Franklin County has a population of 75,432. The median rent in Franklin County for a 2 bedroom is $1,072. The median Pasco resident is 30 years old with a yearly income of $29,635. The average family has 3.8 members and a median household income of $62,775. Pasco has a 18% higher education rate. The unemployment rate in Pasco is 6.2%.


Population
75,432 people

County
Franklin County

Renters

30.8% of Pasco households are renters.


Rent Burden

29.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Franklin County 1
Washington 2
National 2
Studio $714 $801 $737
1 bedroom $867 $904 $813
2 bedroom $1,072 $1,138 $1,015
3 bedroom $1,450 $1,591 $1,325
4 bedroom $1,811 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Pasco Demographics


Median Individual Income
$29,635 / year

Median Household Income
$62,775 / year

Families w/ Dual Incomes
59%

Unemployment Rate
6.2%
Household Income Distribution
Pasco, WA

Median Age
30 years

Avg Family Size
3.8 people
Age Distribution
Pasco, WA

College Education or Above
18%

STEM College Graduates
43%
Education Distribution
Pasco, WA
Source: U.S. Census Bureau

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