Tooele is located in a good market for 5+ unit multifamily loans. Multifamily loans in Tooele are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Tooele are competitive. Tooele 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 Tooele.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Tooele are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.39% - 6.63% |
| 7 Year Fixed | 6.13% - 6.37% |
| 10 Year Fixed | 6.24% - 6.48% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Tooele.
The city of Tooele in Tooele County has a population of 36,015. The median rent in Tooele County for a 2 bedroom is $1,004. The median Tooele resident is 31 years old with a yearly income of $31,919. The average family has 3.57 members and a median household income of $63,851. Tooele has a 18% higher education rate. The unemployment rate in Tooele is 6.0%.
19.8% of Tooele households are renters.
35.8% median household income spent on rent.
Bedrooms |
Tooele County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $720 | $659 | $737 |
| 1 bedroom | $803 | $743 | $813 |
| 2 bedroom | $1,004 | $922 | $1,015 |
| 3 bedroom | $1,409 | $1,250 | $1,325 |
| 4 bedroom | $1,738 | $1,497 | $1,521 |
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