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Multifamily Loans in
Benicia, CA

Overview

Benicia is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Benicia are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Benicia are slightly higher than the national average. Benicia 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 Benicia.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Benicia, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Benicia 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 $6M
5 Year Fixed 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
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®
$6M to $100M
5 Year Fixed 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Benicia 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 Benicia, CA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Benicia.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 06, 2021


Benicia Market

The city of Benicia in Solano County has a population of 28,240. The median rent in Solano County for a 2 bedroom is $1,767. The median Benicia resident is 46 years old with a yearly income of $52,891. The average family has 2.96 members and a median household income of $103,413. Benicia has a 45% higher education rate. The unemployment rate in Benicia is 2.7%.


Population
28,240 people

County
Solano County

Renters

28.2% of Benicia households are renters.


Rent Burden

31.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Solano County 1
California 2
National 2
Studio $1,300 $1,137 $737
1 bedroom $1,477 $1,291 $813
2 bedroom $1,767 $1,635 $1,015
3 bedroom $2,529 $2,254 $1,325
4 bedroom $3,059 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Benicia Demographics


Median Individual Income
$52,891 / year

Median Household Income
$103,413 / year

Families w/ Dual Incomes
54%

Unemployment Rate
2.7%
Household Income Distribution
Benicia, CA

Median Age
46 years

Avg Family Size
2.96 people
Age Distribution
Benicia, CA

College Education or Above
45%

STEM College Graduates
52%
Education Distribution
Benicia, CA
Source: U.S. Census Bureau

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