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.
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 | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.12% - 6.36% |
| 7 Year Fixed | 6.05% - 6.29% |
| 10 Year Fixed | 6.14% - 6.38% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in El Cajon.
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%.
60.2% of El Cajon households are renters.
37.2% median household income spent on rent.
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 |
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