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Multifamily Loans in
Bakersfield, CA

Overview

Bakersfield is located in a good market for 5+ unit multifamily loans. Multifamily loans in Bakersfield are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Bakersfield are competitive. Bakersfield 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 Bakersfield.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Bakersfield, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bakersfield are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.52% - 3.76%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/05/2021. This is not an offer or commitment to lend. Multifamily loan rates in Bakersfield may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Lenders in Bakersfield, CA

All major multifamily lender types are lending in Bakersfield.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 06, 2021


Bakersfield Market

The city of Bakersfield in Kern County has a population of 384,145. The median rent in Kern County for a 2 bedroom is $1,039. The median Bakersfield resident is 31 years old with a yearly income of $29,612. The average family has 3.68 members and a median household income of $63,139. Bakersfield has a 22% higher education rate. The unemployment rate in Bakersfield is 8.4%.


Population
384,145 people

County
Kern County

Renters

41% of Bakersfield households are renters.


Rent Burden

32.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kern County 1
California 2
National 2
Studio $786 $1,137 $737
1 bedroom $796 $1,291 $813
2 bedroom $1,039 $1,635 $1,015
3 bedroom $1,487 $2,254 $1,325
4 bedroom $1,799 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Bakersfield Demographics


Median Individual Income
$29,612 / year

Median Household Income
$63,139 / year

Families w/ Dual Incomes
51%

Unemployment Rate
8.4%
Household Income Distribution
Bakersfield, CA

Median Age
31 years

Avg Family Size
3.68 people
Age Distribution
Bakersfield, CA

College Education or Above
22%

STEM College Graduates
46%
Education Distribution
Bakersfield, CA
Source: U.S. Census Bureau

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