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Multifamily Loans in
Port Angeles, WA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Port Angeles, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Port Angeles 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 3.73% - 3.97%
7 Year Fixed 3.54% - 3.78%
10 Year Fixed 3.78% - 4.02%
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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Port Angeles 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 Port Angeles, WA

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


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 08, 2021


Port Angeles Market

The city of Port Angeles in Clallam County has a population of 20,229. The median rent in Clallam County for a 2 bedroom is $1,084. The median Port Angeles resident is 39 years old with a yearly income of $27,299. The average family has 2.79 members and a median household income of $47,256. Port Angeles has a 26% higher education rate. The unemployment rate in Port Angeles is 7.4%.


Population
20,229 people

County
Clallam County

Renters

46.9% of Port Angeles households are renters.


Rent Burden

34.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Clallam County 1
Washington 2
National 2
Studio $715 $801 $737
1 bedroom $823 $904 $813
2 bedroom $1,084 $1,138 $1,015
3 bedroom $1,536 $1,591 $1,325
4 bedroom $1,671 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Port Angeles Demographics


Median Individual Income
$27,299 / year

Median Household Income
$47,256 / year

Families w/ Dual Incomes
45%

Unemployment Rate
7.4%
Household Income Distribution
Port Angeles, WA

Median Age
39 years

Avg Family Size
2.79 people
Age Distribution
Port Angeles, WA

College Education or Above
26%

STEM College Graduates
42%
Education Distribution
Port Angeles, WA
Source: U.S. Census Bureau

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