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.
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 | 6.74% - 7.48% |
| 7 Year Fixed | 6.70% - 7.21% |
| 10 Year Fixed | 6.71% - 7.11% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.77% - 7.01% |
| 7 Year Fixed | 6.55% - 6.79% |
| 10 Year Fixed | 6.59% - 6.83% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.54% - 7.28% |
| 7 Year Fixed | 6.50% - 7.01% |
| 10 Year Fixed | 6.51% - 6.91% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in East Palo Alto.
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%.
60.2% of East Palo Alto households are renters.
36.5% median household income spent on rent.
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 |
We're here to help.