Wenatchee is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Wenatchee are considered greater risk due to market dynamics. Interest rates for multifamily loans in Wenatchee are higher than the national average. Wenatchee 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 Wenatchee.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wenatchee are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.28% - 7.52% |
| 7 Year Fixed | 6.79% - 7.03% |
| 10 Year Fixed | 6.88% - 7.12% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Wenatchee.
The city of Wenatchee in Chelan County has a population of 34,360. The median rent in Chelan County for a 2 bedroom is $1,181. The median Wenatchee resident is 36 years old with a yearly income of $27,489. The average family has 3.42 members and a median household income of $53,167. Wenatchee has a 23% higher education rate. The unemployment rate in Wenatchee is 3.2%.
44.9% of Wenatchee households are renters.
29.2% median household income spent on rent.
Bedrooms |
Chelan County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $783 | $801 | $737 |
| 1 bedroom | $924 | $904 | $813 |
| 2 bedroom | $1,181 | $1,138 | $1,015 |
| 3 bedroom | $1,612 | $1,591 | $1,325 |
| 4 bedroom | $1,851 | $1,874 | $1,521 |
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