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Multifamily Loans in
Salina, KS

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Salina, KS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Salina 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Salina 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 Salina, KS

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


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


Salina Market

The city of Salina in Saline County has a population of 46,550. The median rent in Saline County for a 2 bedroom is $842. The median Salina resident is 38 years old with a yearly income of $28,244. The average family has 3.14 members and a median household income of $50,490. Salina has a 27% higher education rate. The unemployment rate in Salina is 3.4%.


Population
46,550 people

County
Saline County

Renters

36.6% of Salina households are renters.


Rent Burden

29% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Saline County 1
Kansas 2
National 2
Studio $571 $581 $737
1 bedroom $639 $612 $813
2 bedroom $842 $781 $1,015
3 bedroom $1,070 $1,027 $1,325
4 bedroom $1,345 $1,166 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Salina Demographics


Median Individual Income
$28,244 / year

Median Household Income
$50,490 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.4%
Household Income Distribution
Salina, KS

Median Age
38 years

Avg Family Size
3.14 people
Age Distribution
Salina, KS

College Education or Above
27%

STEM College Graduates
37%
Education Distribution
Salina, KS
Source: U.S. Census Bureau

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