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Multifamily Loans in
Wichita, KS

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Wichita, KS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wichita 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 Wichita 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 Wichita, KS

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


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


Wichita Market

The city of Wichita in Sedgwick County has a population of 389,938. The median rent in Sedgwick County for a 2 bedroom is $902. The median Wichita resident is 35 years old with a yearly income of $29,154. The average family has 3.25 members and a median household income of $52,620. Wichita has a 30% higher education rate. The unemployment rate in Wichita is 5.6%.


Population
389,938 people

County
Sedgwick County

Renters

41.2% of Wichita households are renters.


Rent Burden

29.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Sedgwick County 1
Kansas 2
National 2
Studio $595 $581 $737
1 bedroom $695 $612 $813
2 bedroom $902 $781 $1,015
3 bedroom $1,218 $1,027 $1,325
4 bedroom $1,492 $1,166 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wichita Demographics


Median Individual Income
$29,154 / year

Median Household Income
$52,620 / year

Families w/ Dual Incomes
54%

Unemployment Rate
5.6%
Household Income Distribution
Wichita, KS

Median Age
35 years

Avg Family Size
3.25 people
Age Distribution
Wichita, KS

College Education or Above
30%

STEM College Graduates
40%
Education Distribution
Wichita, KS
Source: U.S. Census Bureau

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