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Multifamily Loans in
Wenatchee, WA

Overview

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.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Wenatchee, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wenatchee 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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Wenatchee 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 Wenatchee, WA

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


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


Wenatchee Market

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%.


Population
34,360 people

County
Chelan County

Renters

44.9% of Wenatchee households are renters.


Rent Burden

29.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wenatchee Demographics


Median Individual Income
$27,489 / year

Median Household Income
$53,167 / year

Families w/ Dual Incomes
51%

Unemployment Rate
3.2%
Household Income Distribution
Wenatchee, WA

Median Age
36 years

Avg Family Size
3.42 people
Age Distribution
Wenatchee, WA

College Education or Above
23%

STEM College Graduates
50%
Education Distribution
Wenatchee, WA
Source: U.S. Census Bureau

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