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Multifamily Loans in
Redmond, WA

Overview

Redmond is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Redmond are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Redmond are some of the lowest nationally. Redmond apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Redmond.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Redmond, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Redmond are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.15% - 3.39%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.23% - 3.63%
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 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 08, 2021


Multifamily Lenders in Redmond, WA

All major multifamily lender types are lending in Redmond.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


Redmond Market

The city of Redmond in King County has a population of 71,929. The median rent in King County for a 2 bedroom is $2,076. The median Redmond resident is 35 years old with a yearly income of $67,341. The average family has 2.99 members and a median household income of $132,188. Redmond has a 72% higher education rate. The unemployment rate in Redmond is 3.5%.


Population
71,929 people

County
King County

Renters

50% of Redmond households are renters.


Rent Burden

20.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
King County 1
Washington 2
National 2
Studio $1,659 $801 $737
1 bedroom $1,741 $904 $813
2 bedroom $2,076 $1,138 $1,015
3 bedroom $2,903 $1,591 $1,325
4 bedroom $3,421 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Redmond Demographics


Median Individual Income
$67,341 / year

Median Household Income
$132,188 / year

Families w/ Dual Incomes
58%

Unemployment Rate
3.5%
Household Income Distribution
Redmond, WA

Median Age
35 years

Avg Family Size
2.99 people
Age Distribution
Redmond, WA

College Education or Above
72%

STEM College Graduates
69%
Education Distribution
Redmond, WA
Source: U.S. Census Bureau

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