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Multifamily Loans in
East Hemet, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in East Hemet, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in East Hemet 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 East Hemet 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 East Hemet, CA

All major multifamily lender types are lending in East Hemet.


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


East Hemet Market

The city of East Hemet in Riverside County has a population of 20,211. The median rent in Riverside County for a 2 bedroom is $1,506. The median East Hemet resident is 33 years old with a yearly income of $23,469. The average family has 3.97 members and a median household income of $53,964. East Hemet has a 12% higher education rate. The unemployment rate in East Hemet is 10.7%.


Population
20,211 people

County
Riverside County

Renters

40.4% of East Hemet households are renters.


Rent Burden

32.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Riverside County 1
California 2
National 2
Studio $1,035 $1,137 $737
1 bedroom $1,199 $1,291 $813
2 bedroom $1,506 $1,635 $1,015
3 bedroom $2,077 $2,254 $1,325
4 bedroom $2,567 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

East Hemet Demographics


Median Individual Income
$23,469 / year

Median Household Income
$53,964 / year

Families w/ Dual Incomes
46%

Unemployment Rate
10.7%
Household Income Distribution
East Hemet, CA

Median Age
33 years

Avg Family Size
3.97 people
Age Distribution
East Hemet, CA

College Education or Above
12%

STEM College Graduates
42%
Education Distribution
East Hemet, CA
Source: U.S. Census Bureau

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