Loading...

Multifamily Loans in
Springville, UT

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Springville, UT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Springville 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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Springville 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 04, 2021


Multifamily Lenders in Springville, UT

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


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 04, 2021


Springville Market

The city of Springville in Utah County has a population of 33,310. The median rent in Utah County for a 2 bedroom is $996. The median Springville resident is 26 years old with a yearly income of $30,591. The average family has 3.95 members and a median household income of $69,139. Springville has a 36% higher education rate. The unemployment rate in Springville is 2.3%.


Population
33,310 people

County
Utah County

Renters

31% of Springville households are renters.


Rent Burden

28.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Utah County 1
Utah 2
National 2
Studio $819 $659 $737
1 bedroom $874 $743 $813
2 bedroom $996 $922 $1,015
3 bedroom $1,425 $1,250 $1,325
4 bedroom $1,724 $1,497 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Springville Demographics


Median Individual Income
$30,591 / year

Median Household Income
$69,139 / year

Families w/ Dual Incomes
60%

Unemployment Rate
2.3%
Household Income Distribution
Springville, UT

Median Age
26 years

Avg Family Size
3.95 people
Age Distribution
Springville, UT

College Education or Above
36%

STEM College Graduates
41%
Education Distribution
Springville, UT
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