Orchards is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Orchards are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Orchards are some of the lowest nationally. Orchards 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 Orchards.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Orchards are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
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 | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
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 Orchards.
The city of Orchards in Clark County has a population of 24,335. The median rent in Clark County for a 2 bedroom is $1,620. The median Orchards resident is 34 years old with a yearly income of $35,462. The average family has 3.31 members and a median household income of $73,417. Orchards has a 22% higher education rate. The unemployment rate in Orchards is 5.6%.
27.9% of Orchards households are renters.
31.6% median household income spent on rent.
Bedrooms |
Clark County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $1,313 | $801 | $737 |
| 1 bedroom | $1,404 | $904 | $813 |
| 2 bedroom | $1,620 | $1,138 | $1,015 |
| 3 bedroom | $2,312 | $1,591 | $1,325 |
| 4 bedroom | $2,802 | $1,874 | $1,521 |
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