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Multifamily Loans in
Washington, UT

Overview

Washington is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Washington are considered greater risk due to market dynamics. Interest rates for multifamily loans in Washington are higher than the national average. Washington apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Washington.

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Multifamily Loan Rates in Washington, UT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Washington 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 3.73% - 3.97%
7 Year Fixed 3.54% - 3.78%
10 Year Fixed 3.78% - 4.02%
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 3.15% - 3.40%
7 Year Fixed 3.35% - 3.80%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Washington 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.

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Multifamily Lenders in Washington, UT

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


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 02, 2021


Washington Market

The city of Washington in Washington County has a population of 29,174. The median rent in Washington County for a 2 bedroom is $1,020. The median Washington resident is 34 years old with a yearly income of $30,454. The average family has 3.46 members and a median household income of $66,479. Washington has a 30% higher education rate. The unemployment rate in Washington is 0.6%.


Population
29,174 people

County
Washington County

Renters

29.7% of Washington households are renters.


Rent Burden

25.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Washington County 1
Utah 2
National 2
Studio $790 $659 $737
1 bedroom $822 $743 $813
2 bedroom $1,020 $922 $1,015
3 bedroom $1,460 $1,250 $1,325
4 bedroom $1,766 $1,497 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Washington Demographics


Median Individual Income
$30,454 / year

Median Household Income
$66,479 / year

Families w/ Dual Incomes
53%

Unemployment Rate
0.6%
Household Income Distribution
Washington, UT

Median Age
34 years

Avg Family Size
3.46 people
Age Distribution
Washington, UT

College Education or Above
30%

STEM College Graduates
38%
Education Distribution
Washington, UT
Source: U.S. Census Bureau

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