Loading...

Multifamily Loans in
Topeka, KS

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Topeka, KS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Topeka 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% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.51% - 3.75%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Topeka 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 08, 2021


Multifamily Lenders in Topeka, KS

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


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 08, 2021


Topeka Market

The city of Topeka in Shawnee County has a population of 125,310. The median rent in Shawnee County for a 2 bedroom is $853. The median Topeka resident is 38 years old with a yearly income of $29,319. The average family has 3.04 members and a median household income of $47,999. Topeka has a 29% higher education rate. The unemployment rate in Topeka is 4.7%.


Population
125,310 people

County
Shawnee County

Renters

43.7% of Topeka households are renters.


Rent Burden

29.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Shawnee County 1
Kansas 2
National 2
Studio $643 $581 $737
1 bedroom $648 $612 $813
2 bedroom $853 $781 $1,015
3 bedroom $1,094 $1,027 $1,325
4 bedroom $1,298 $1,166 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Topeka Demographics


Median Individual Income
$29,319 / year

Median Household Income
$47,999 / year

Families w/ Dual Incomes
51%

Unemployment Rate
4.7%
Household Income Distribution
Topeka, KS

Median Age
38 years

Avg Family Size
3.04 people
Age Distribution
Topeka, KS

College Education or Above
29%

STEM College Graduates
37%
Education Distribution
Topeka, KS
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