Winchester is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Winchester are considered greater risk due to market dynamics. Interest rates for multifamily loans in Winchester are higher than the national average. Winchester apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Winchester.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Winchester 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 | 5.58% - 5.82% |
| 7 Year Fixed | 5.37% - 5.61% |
| 10 Year Fixed | 5.23% - 5.47% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Winchester.
The city of Winchester in Winchester city has a population of 28,078. The median rent in Winchester city for a 2 bedroom is $1,142. The median Winchester resident is 38 years old with a yearly income of $28,202. The average family has 3.31 members and a median household income of $58,818. Winchester has a 35% higher education rate. The unemployment rate in Winchester is 3.2%.
55.7% of Winchester households are renters.
28.7% median household income spent on rent.
Bedrooms |
Winchester city 1 |
Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $873 | $833 | $737 |
| 1 bedroom | $879 | $897 | $813 |
| 2 bedroom | $1,142 | $1,072 | $1,015 |
| 3 bedroom | $1,502 | $1,423 | $1,325 |
| 4 bedroom | $1,946 | $1,680 | $1,521 |
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