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Multifamily Loans in
Salt Lake City, UT

Overview

Salt Lake City is located in a good market for 5+ unit multifamily loans. Multifamily loans in Salt Lake City are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Salt Lake City are competitive. Salt Lake City 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 Salt Lake City.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Salt Lake City, UT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Salt Lake City 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 $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.52% - 3.76%
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®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Salt Lake City 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 02, 2021


Multifamily Lenders in Salt Lake City, UT

All major multifamily lender types are lending in Salt Lake City.


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 02, 2021


Salt Lake City Market

The city of Salt Lake City in Salt Lake County has a population of 200,567. The median rent in Salt Lake County for a 2 bedroom is $1,291. The median Salt Lake City resident is 32 years old with a yearly income of $31,245. The average family has 3.24 members and a median household income of $60,676. Salt Lake City has a 47% higher education rate. The unemployment rate in Salt Lake City is 3.6%.


Population
200,567 people

County
Salt Lake County

Renters

51.9% of Salt Lake City households are renters.


Rent Burden

28.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Salt Lake County 1
Utah 2
National 2
Studio $889 $659 $737
1 bedroom $1,073 $743 $813
2 bedroom $1,291 $922 $1,015
3 bedroom $1,812 $1,250 $1,325
4 bedroom $2,029 $1,497 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Salt Lake City Demographics


Median Individual Income
$31,245 / year

Median Household Income
$60,676 / year

Families w/ Dual Incomes
60%

Unemployment Rate
3.6%
Household Income Distribution
Salt Lake City, UT

Median Age
32 years

Avg Family Size
3.24 people
Age Distribution
Salt Lake City, UT

College Education or Above
47%

STEM College Graduates
50%
Education Distribution
Salt Lake City, UT
Source: U.S. Census Bureau

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