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Multifamily Loans in
West Des Moines, IA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in West Des Moines, IA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in West Des Moines 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 3.22% - 3.47%
7 Year Fixed 3.39% - 3.84%
10 Year Fixed 3.37% - 3.77%
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 West Des Moines 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 West Des Moines, IA

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


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


West Des Moines Market

The city of West Des Moines in Polk County has a population of 67,899. The median rent in Polk County for a 2 bedroom is $957. The median West Des Moines resident is 37 years old with a yearly income of $43,222. The average family has 2.91 members and a median household income of $76,368. West Des Moines has a 55% higher education rate. The unemployment rate in West Des Moines is 2.3%.


Population
67,899 people

County
Polk County

Renters

38.9% of West Des Moines households are renters.


Rent Burden

24.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Polk County 1
Iowa 2
National 2
Studio $645 $558 $737
1 bedroom $783 $613 $813
2 bedroom $957 $785 $1,015
3 bedroom $1,308 $1,038 $1,325
4 bedroom $1,393 $1,151 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

West Des Moines Demographics


Median Individual Income
$43,222 / year

Median Household Income
$76,368 / year

Families w/ Dual Incomes
60%

Unemployment Rate
2.3%
Household Income Distribution
West Des Moines, IA

Median Age
37 years

Avg Family Size
2.91 people
Age Distribution
West Des Moines, IA

College Education or Above
55%

STEM College Graduates
40%
Education Distribution
West Des Moines, IA
Source: U.S. Census Bureau

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