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Multifamily Loans in Utah & Current Rates
Multifamily Loans in Utah
Utah, known for its stunning landscapes and outdoor recreational opportunities, is also a thriving hub for multifamily housing. The state's robust growth in recent years has led to an increased demand for multifamily properties, making it an attractive market for investors. We are proud to offer comprehensive financing services in Utah, catering to all types of multifamily properties. Whether you're looking to finance a small duplex or a large apartment complex, our team of experts is ready to assist you with your investment needs.
Our services are not just limited to providing loans. We also offer guidance and support throughout the entire loan process. From application to closing, we ensure a smooth and hassle-free experience for our clients. With our deep understanding of the Utah market and our commitment to customer service, we are your go-to source for multifamily loans in the Beehive State.
Economy in Review
Utah's economy is diverse and robust, contributing to the state's strong demand for multifamily housing. According to the Bureau of Labor Statistics, the most common types of employment in Utah are in trade, transportation, and utilities, followed closely by professional and business services. This diverse economic base provides a stable environment for investment in multifamily properties.
Demographic shifts also play a significant role in Utah's economy. Data from the U.S. Census Bureau shows a steady influx of people moving to Utah, further driving the demand for housing. The state is also home to several higher education institutions, including the University of Utah and Brigham Young University, which attract students from across the country and around the world. Additionally, the healthcare sector is a major employer in the state, with Intermountain Healthcare and University of Utah Health among the top employers. These factors combined make Utah a promising location for multifamily property investment.
When it comes to getting a multifamily loan, the sheer number of choices can be daunting. What this really means, however, is that there are incredible opportunities for apartment complex investors regardless of location, property size, or experience level.
Multifamily Loans connects borrowers with lenders across the country who are prepared to offer you highly competitive terms. Whether you're buying, developing, or renovating an apartment building, shopping your loan to multiple lenders — not just the bank or credit union down the street — gives you a huge advantage.
Our experienced team of capital markets advisors will source the very best terms from our unparalleled network of lenders to ensure your property gets the best financing terms available. We offer this service completely free of charge.
Looking for more information about Utah? Read on below. Otherwise, click the button below, and we'll get right back to you with your free multifamily loan quote.
Today's Interest Rates in Utah
Find today's rates in the table below. Please note that these are benchmark index rates only — every loan product will have a rate that varies depending on the property, the location, the borrower's financial strength and experience, and several other factors.
Current Multifamily Loans in Utah
There are a wide range of multifamily financing options in Utah. Keep reading to learn which loan types could be the most suitable for your property.
1. Bank and Credit Union Loans
Loans from banks and credit unions are a diverse bunch. Every institution typically has different preferences when it comes to location, property size, and risk. While it's difficult to give detailed general information about what to expect from a local, regional, or national bank or credit union, loans often require some kind of recourse and (usually) a larger down payment compared to agency loans.
2. Fannie Mae Multifamily Loans
Fannie Mae Multifamily loans offers loans in Utah in various sizes. These financing options offer competitive floating and fixed rates for a variety of uses. See below for the latest rates and terms. Note that the Fannie Small loan is particularly competitive for amounts under $9 million.
3. Freddie Mac Multifamily Loans
Like Fannie Mae, Freddie Mac also offers a wide range of multifamily loans. The GSE's most popular loan for smaller investors, the Freddie Mac Small Balance Loan, is a great option for those seeking non-recourse financing for amounts of under $7.5 million, and there are many other Freddie loans that cover everything from student housing to mobile home parks.
4. HUD Multifamily Loans
While you might associate HUD with affordable and Section 8 housing projects, the U.S. Department of Housing and Urban Development backs several loans in Utah with incredibly strong terms — and they work wonders for market-rate properties.
Take the HUD 221(d)(4) loan, for example. This construction financing is hard to beat, thanks to fully amortizing terms of 40+ years, a low, fixed rate, and high leverage allowances.
HUD's 223(f) loan is equally impressive: a great acquisition or refinancing option that offers a fixed rate, full amortization, and leverage of up to 83.3% for market-rate (and higher for affordable) properties.
5. Bridge Loans
If you're after short-term financing for a multifamily property, a bridge loan could be a great option. These loans do come at a higher cost compared to many others, but the flexibility can make it more than worth it — particularly if your property is still stabilizing.
6. CMBS Loans
Commercial mortgage-backed security loans are asset focused. That means that getting approved for one comes down to the strength of the property, not the borrower. Multifamily CMBS loans often offer leverage up to 75% for eligible properties, and the loans also are non-recourse and (often) are tied to a fixed interest rate.
If you are interested in applying for a multifamily loan in Utah? Put your details in the form below, and we’ll match you with the best lender for your investment strategy.