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Multifamily Loans in
Chico, CA

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Chico, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Chico 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Chico 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 03, 2021


Multifamily Lenders in Chico, CA

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


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 03, 2021


Chico Market

The city of Chico in Butte County has a population of 103,301. The median rent in Butte County for a 2 bedroom is $1,270. The median Chico resident is 30 years old with a yearly income of $24,661. The average family has 3.12 members and a median household income of $53,324. Chico has a 37% higher education rate. The unemployment rate in Chico is 8.0%.


Population
103,301 people

County
Butte County

Renters

55.3% of Chico households are renters.


Rent Burden

37.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Butte County 1
California 2
National 2
Studio $879 $1,137 $737
1 bedroom $964 $1,291 $813
2 bedroom $1,270 $1,635 $1,015
3 bedroom $1,802 $2,254 $1,325
4 bedroom $2,199 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Chico Demographics


Median Individual Income
$24,661 / year

Median Household Income
$53,324 / year

Families w/ Dual Incomes
52%

Unemployment Rate
8.0%
Household Income Distribution
Chico, CA

Median Age
30 years

Avg Family Size
3.12 people
Age Distribution
Chico, CA

College Education or Above
37%

STEM College Graduates
48%
Education Distribution
Chico, CA
Source: U.S. Census Bureau

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