Loading...

Multifamily Loans in
Richland, WA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Richland, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Richland 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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
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 Richland 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 Richland, WA

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


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


Richland Market

The city of Richland in Benton County has a population of 58,225. The median rent in Benton County for a 2 bedroom is $1,072. The median Richland resident is 37 years old with a yearly income of $39,550. The average family has 3.1 members and a median household income of $77,686. Richland has a 43% higher education rate. The unemployment rate in Richland is 4.0%.


Population
58,225 people

County
Benton County

Renters

34.9% of Richland households are renters.


Rent Burden

24.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Benton 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

Richland Demographics


Median Individual Income
$39,550 / year

Median Household Income
$77,686 / year

Families w/ Dual Incomes
51%

Unemployment Rate
4.0%
Household Income Distribution
Richland, WA

Median Age
37 years

Avg Family Size
3.1 people
Age Distribution
Richland, WA

College Education or Above
43%

STEM College Graduates
55%
Education Distribution
Richland, WA
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