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Multifamily Loans in
Fortuna Foothills, AZ

Overview

Fortuna Foothills is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Fortuna Foothills are considered greater risk due to market dynamics. Interest rates for multifamily loans in Fortuna Foothills are higher than the national average. Fortuna Foothills 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 Fortuna Foothills.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Fortuna Foothills, AZ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fortuna Foothills 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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Fortuna Foothills 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 02, 2021


Multifamily Lenders in Fortuna Foothills, AZ

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


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 02, 2021


Fortuna Foothills Market

The city of Fortuna Foothills in Yuma County has a population of 29,955. The median rent in Yuma County for a 2 bedroom is $991. The median Fortuna Foothills resident is 60 years old with a yearly income of $27,217. The average family has 2.65 members and a median household income of $50,749. Fortuna Foothills has a 15% higher education rate. The unemployment rate in Fortuna Foothills is 6.7%.


Population
29,955 people

County
Yuma County

Renters

19.3% of Fortuna Foothills households are renters.


Rent Burden

24% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Yuma County 1
Arizona 2
National 2
Studio $711 $747 $737
1 bedroom $754 $822 $813
2 bedroom $991 $1,038 $1,015
3 bedroom $1,412 $1,433 $1,325
4 bedroom $1,716 $1,597 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fortuna Foothills Demographics


Median Individual Income
$27,217 / year

Median Household Income
$50,749 / year

Families w/ Dual Incomes
26%

Unemployment Rate
6.7%
Household Income Distribution
Fortuna Foothills, AZ

Median Age
60 years

Avg Family Size
2.65 people
Age Distribution
Fortuna Foothills, AZ

College Education or Above
15%

STEM College Graduates
40%
Education Distribution
Fortuna Foothills, AZ
Source: U.S. Census Bureau

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