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Multifamily Loans in
Redmond, OR

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Redmond, OR

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Redmond 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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Redmond 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 04, 2021


Multifamily Lenders in Redmond, OR

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


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 04, 2021


Redmond Market

The city of Redmond in Deschutes County has a population of 32,421. The median rent in Deschutes County for a 2 bedroom is $1,354. The median Redmond resident is 37 years old with a yearly income of $30,275. The average family has 3.15 members and a median household income of $65,088. Redmond has a 19% higher education rate. The unemployment rate in Redmond is 6.0%.


Population
32,421 people

County
Deschutes County

Renters

40% of Redmond households are renters.


Rent Burden

27.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Deschutes County 1
Oregon 2
National 2
Studio $907 $786 $737
1 bedroom $1,113 $891 $813
2 bedroom $1,354 $1,112 $1,015
3 bedroom $1,938 $1,569 $1,325
4 bedroom $2,344 $1,853 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Redmond Demographics


Median Individual Income
$30,275 / year

Median Household Income
$65,088 / year

Families w/ Dual Incomes
57%

Unemployment Rate
6.0%
Household Income Distribution
Redmond, OR

Median Age
37 years

Avg Family Size
3.15 people
Age Distribution
Redmond, OR

College Education or Above
19%

STEM College Graduates
45%
Education Distribution
Redmond, OR
Source: U.S. Census Bureau

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