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Multifamily Loans in
East Palo Alto, CA

Overview

East Palo Alto is located in a strong market for 5+ unit multifamily loans. Multifamily loans in East Palo Alto are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in East Palo Alto are some of the lowest nationally. East Palo Alto 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 Palo Alto.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in East Palo Alto, CA

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

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.15% - 3.39%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 2.98% - 3.23%
7 Year Fixed 3.14% - 3.59%
10 Year Fixed 3.20% - 3.60%
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 Palo Alto 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 Palo Alto, CA

All major multifamily lender types are lending in East Palo Alto.


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 Palo Alto Market

The city of East Palo Alto in San Mateo County has a population of 29,314. The median rent in San Mateo County for a 2 bedroom is $3,700. The median East Palo Alto resident is 31 years old with a yearly income of $30,037. The average family has 4.31 members and a median household income of $67,087. East Palo Alto has a 21% higher education rate. The unemployment rate in East Palo Alto is 4.4%.


Population
29,314 people

County
San Mateo County

Renters

60.2% of East Palo Alto households are renters.


Rent Burden

36.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
San Mateo County 1
California 2
National 2
Studio $2,447 $1,137 $737
1 bedroom $3,044 $1,291 $813
2 bedroom $3,700 $1,635 $1,015
3 bedroom $4,756 $2,254 $1,325
4 bedroom $5,176 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

East Palo Alto Demographics


Median Individual Income
$30,037 / year

Median Household Income
$67,087 / year

Families w/ Dual Incomes
66%

Unemployment Rate
4.4%
Household Income Distribution
East Palo Alto, CA

Median Age
31 years

Avg Family Size
4.31 people
Age Distribution
East Palo Alto, CA

College Education or Above
21%

STEM College Graduates
57%
Education Distribution
East Palo Alto, CA
Source: U.S. Census Bureau

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