Pasco is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Pasco are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Pasco are slightly higher than the national average. Pasco 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 Pasco.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pasco 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 $6M |
|---|---|
| 5 Year Fixed | 5.53% - 5.77% |
| 7 Year Fixed | 5.17% - 5.41% |
| 10 Year Fixed | 5.18% - 5.42% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Pasco.
The city of Pasco in Franklin County has a population of 75,432. The median rent in Franklin County for a 2 bedroom is $1,072. The median Pasco resident is 30 years old with a yearly income of $29,635. The average family has 3.8 members and a median household income of $62,775. Pasco has a 18% higher education rate. The unemployment rate in Pasco is 6.2%.
30.8% of Pasco households are renters.
29.8% median household income spent on rent.
Bedrooms |
Franklin County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $714 | $801 | $737 |
| 1 bedroom | $867 | $904 | $813 |
| 2 bedroom | $1,072 | $1,138 | $1,015 |
| 3 bedroom | $1,450 | $1,591 | $1,325 |
| 4 bedroom | $1,811 | $1,874 | $1,521 |
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