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Multifamily Loans in
Elk Grove, CA

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Elk Grove, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Elk Grove 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 3.06% - 3.31%
7 Year Fixed 3.23% - 3.68%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Elk Grove 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 03, 2021


Multifamily Lenders in Elk Grove, CA

All major multifamily lender types are lending in Elk Grove.


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 03, 2021


Elk Grove Market

The city of Elk Grove in Sacramento County has a population of 174,775. The median rent in Sacramento County for a 2 bedroom is $1,606. The median Elk Grove resident is 38 years old with a yearly income of $40,163. The average family has 3.61 members and a median household income of $93,780. Elk Grove has a 37% higher education rate. The unemployment rate in Elk Grove is 5.5%.


Population
174,775 people

County
Sacramento County

Renters

25.1% of Elk Grove households are renters.


Rent Burden

33% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Sacramento County 1
California 2
National 2
Studio $1,138 $1,137 $737
1 bedroom $1,276 $1,291 $813
2 bedroom $1,606 $1,635 $1,015
3 bedroom $2,298 $2,254 $1,325
4 bedroom $2,781 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Elk Grove Demographics


Median Individual Income
$40,163 / year

Median Household Income
$93,780 / year

Families w/ Dual Incomes
60%

Unemployment Rate
5.5%
Household Income Distribution
Elk Grove, CA

Median Age
38 years

Avg Family Size
3.61 people
Age Distribution
Elk Grove, CA

College Education or Above
37%

STEM College Graduates
48%
Education Distribution
Elk Grove, CA
Source: U.S. Census Bureau

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