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Multifamily Loans in
Eureka, CA

Overview

Eureka is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Eureka are considered greater risk due to market dynamics. Interest rates for multifamily loans in Eureka are higher than the national average. Eureka apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Eureka.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Eureka, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Eureka 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 $6M
5 Year Fixed 3.73% - 3.97%
7 Year Fixed 3.54% - 3.78%
10 Year Fixed 3.78% - 4.02%
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®
$6M to $100M
5 Year Fixed 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Eureka 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 08, 2021


Multifamily Lenders in Eureka, CA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Eureka.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Eureka Market

The city of Eureka in Humboldt County has a population of 26,710. The median rent in Humboldt County for a 2 bedroom is $1,190. The median Eureka resident is 38 years old with a yearly income of $25,561. The average family has 2.9 members and a median household income of $42,890. Eureka has a 28% higher education rate. The unemployment rate in Eureka is 7.4%.


Population
26,710 people

County
Humboldt County

Renters

56.5% of Eureka households are renters.


Rent Burden

35.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Humboldt County 1
California 2
National 2
Studio $793 $1,137 $737
1 bedroom $923 $1,291 $813
2 bedroom $1,190 $1,635 $1,015
3 bedroom $1,703 $2,254 $1,325
4 bedroom $2,033 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Eureka Demographics


Median Individual Income
$25,561 / year

Median Household Income
$42,890 / year

Families w/ Dual Incomes
43%

Unemployment Rate
7.4%
Household Income Distribution
Eureka, CA

Median Age
38 years

Avg Family Size
2.9 people
Age Distribution
Eureka, CA

College Education or Above
28%

STEM College Graduates
54%
Education Distribution
Eureka, CA
Source: U.S. Census Bureau

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