Loading...

Multifamily Loans in
Payson, UT

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Payson, UT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Payson 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Payson 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 02, 2021


Multifamily Lenders in Payson, UT

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


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 02, 2021


Payson Market

The city of Payson in Utah County has a population of 20,303. The median rent in Utah County for a 2 bedroom is $996. The median Payson resident is 27 years old with a yearly income of $25,527. The average family has 4.01 members and a median household income of $67,272. Payson has a 23% higher education rate. The unemployment rate in Payson is 5.3%.


Population
20,303 people

County
Utah County

Renters

23.3% of Payson households are renters.


Rent Burden

28.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Utah County 1
Utah 2
National 2
Studio $819 $659 $737
1 bedroom $874 $743 $813
2 bedroom $996 $922 $1,015
3 bedroom $1,425 $1,250 $1,325
4 bedroom $1,724 $1,497 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Payson Demographics


Median Individual Income
$25,527 / year

Median Household Income
$67,272 / year

Families w/ Dual Incomes
61%

Unemployment Rate
5.3%
Household Income Distribution
Payson, UT

Median Age
27 years

Avg Family Size
4.01 people
Age Distribution
Payson, UT

College Education or Above
23%

STEM College Graduates
40%
Education Distribution
Payson, UT
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day