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Multifamily Loans in
South Kingstown, RI

Overview

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

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in South Kingstown, RI

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

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.19%
7 Year Fixed 3.42% - 4.00%
10 Year Fixed 3.46% - 3.95%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.34% - 3.58%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.64% - 3.88%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.24% - 3.74%
7 Year Fixed 3.12% - 3.70%
10 Year Fixed 3.16% - 3.65%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.51% - 4.01%
7 Year Fixed 3.64% - 4.34%
10 Year Fixed 3.58% - 4.23%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 01/28/2022. This is not an offer or commitment to lend. Multifamily loan rates in South Kingstown 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 Jan 29, 2022


Multifamily Lenders in South Kingstown, RI

All major multifamily lender types are lending in South Kingstown.


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 Jan 29, 2022


South Kingstown Market

The city of South Kingstown in Washington County has a population of 30,652. The median rent in Washington County for a 2 bedroom is $1,239. The median South Kingstown resident is 36 years old with a yearly income of $27,217. The average family has 2.9 members and a median household income of $89,917. South Kingstown has a 56% higher education rate. The unemployment rate in South Kingstown is 7.4%.


Population
30,652 people

County
Washington County

Renters

27.4% of South Kingstown households are renters.


Rent Burden

31% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Washington County 1
Rhode Island 2
National 2
Studio $915 $936 $737
1 bedroom $1,030 $1,044 $813
2 bedroom $1,239 $1,270 $1,015
3 bedroom $1,541 $1,615 $1,325
4 bedroom $1,850 $1,932 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

South Kingstown Demographics


Median Individual Income
$27,217 / year

Median Household Income
$89,917 / year

Families w/ Dual Incomes
58%

Unemployment Rate
7.4%
Household Income Distribution
South Kingstown, RI

Median Age
36 years

Avg Family Size
2.9 people
Age Distribution
South Kingstown, RI

College Education or Above
56%

STEM College Graduates
45%
Education Distribution
South Kingstown, RI
Source: U.S. Census Bureau

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