Mill Creek East is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Mill Creek East are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Mill Creek East are some of the lowest nationally. Mill Creek East apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Mill Creek East.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mill Creek East are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Mill Creek East.
The city of Mill Creek East in Snohomish County has a population of 24,291. The median rent in Snohomish County for a 2 bedroom is $2,076. The median Mill Creek East resident is 35 years old with a yearly income of $57,320. The average family has 3.42 members and a median household income of $133,794. Mill Creek East has a 52% higher education rate. The unemployment rate in Mill Creek East is 3.4%.
19% of Mill Creek East households are renters.
30.4% median household income spent on rent.
Bedrooms |
Snohomish County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $1,659 | $801 | $737 |
| 1 bedroom | $1,741 | $904 | $813 |
| 2 bedroom | $2,076 | $1,138 | $1,015 |
| 3 bedroom | $2,903 | $1,591 | $1,325 |
| 4 bedroom | $3,421 | $1,874 | $1,521 |
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