Atwater is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Atwater are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Atwater are slightly higher than the national average. Atwater 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 Atwater.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Atwater are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.18% - 7.42% |
| 7 Year Fixed | 6.72% - 6.96% |
| 10 Year Fixed | 6.78% - 7.02% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Atwater.
The city of Atwater in Merced County has a population of 29,559. The median rent in Merced County for a 2 bedroom is $1,148. The median Atwater resident is 32 years old with a yearly income of $25,470. The average family has 3.57 members and a median household income of $55,674. Atwater has a 14% higher education rate. The unemployment rate in Atwater is 11.2%.
47.4% of Atwater households are renters.
32.5% median household income spent on rent.
Bedrooms |
Merced County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $779 | $1,137 | $737 |
| 1 bedroom | $949 | $1,291 | $813 |
| 2 bedroom | $1,148 | $1,635 | $1,015 |
| 3 bedroom | $1,643 | $2,254 | $1,325 |
| 4 bedroom | $1,988 | $2,613 | $1,521 |
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