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Multifamily Loans in
Seattle, WA

Overview

Seattle is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Seattle are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Seattle are some of the lowest nationally. Seattle 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 Seattle.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Seattle, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Seattle 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 2.98% - 3.23%
7 Year Fixed 3.14% - 3.59%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Seattle 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 05, 2021


Multifamily Lenders in Seattle, WA

All major multifamily lender types are lending in Seattle.


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 05, 2021


Seattle Market

The city of Seattle in King County has a population of 753,675. The median rent in King County for a 2 bedroom is $2,076. The median Seattle resident is 35 years old with a yearly income of $49,293. The average family has 2.84 members and a median household income of $92,263. Seattle has a 64% higher education rate. The unemployment rate in Seattle is 4.1%.


Population
753,675 people

County
King County

Renters

54.3% of Seattle households are renters.


Rent Burden

29.7% 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

Seattle Demographics


Median Individual Income
$49,293 / year

Median Household Income
$92,263 / year

Families w/ Dual Incomes
62%

Unemployment Rate
4.1%
Household Income Distribution
Seattle, WA

Median Age
35 years

Avg Family Size
2.84 people
Age Distribution
Seattle, WA

College Education or Above
64%

STEM College Graduates
54%
Education Distribution
Seattle, WA
Source: U.S. Census Bureau

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