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.
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 | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.63% - 6.87% |
| 7 Year Fixed | 6.29% - 6.53% |
| 10 Year Fixed | 6.43% - 6.67% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Fortuna Foothills.
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%.
19.3% of Fortuna Foothills households are renters.
24% median household income spent on rent.
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 |
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