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Multifamily Loans in
El Cajon, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in El Cajon, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in El Cajon 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 3.04% - 3.28%
7 Year Fixed 3.15% - 3.39%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 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 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 El Cajon 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 El Cajon, CA

All major multifamily lender types are lending in El Cajon.


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


El Cajon Market

The city of El Cajon in San Diego County has a population of 102,708. The median rent in San Diego County for a 2 bedroom is $2,254. The median El Cajon resident is 34 years old with a yearly income of $25,446. The average family has 3.59 members and a median household income of $55,309. El Cajon has a 21% higher education rate. The unemployment rate in El Cajon is 8.0%.


Population
102,708 people

County
San Diego County

Renters

60.2% of El Cajon households are renters.


Rent Burden

37.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
San Diego County 1
California 2
National 2
Studio $1,569 $1,137 $737
1 bedroom $1,743 $1,291 $813
2 bedroom $2,254 $1,635 $1,015
3 bedroom $3,170 $2,254 $1,325
4 bedroom $3,903 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

El Cajon Demographics


Median Individual Income
$25,446 / year

Median Household Income
$55,309 / year

Families w/ Dual Incomes
50%

Unemployment Rate
8.0%
Household Income Distribution
El Cajon, CA

Median Age
34 years

Avg Family Size
3.59 people
Age Distribution
El Cajon, CA

College Education or Above
21%

STEM College Graduates
43%
Education Distribution
El Cajon, CA
Source: U.S. Census Bureau

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