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Multifamily Loans in
Foster City, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Foster City, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Foster City are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
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 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 2.98% - 3.23%
7 Year Fixed 3.14% - 3.59%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/05/2021. This is not an offer or commitment to lend. Multifamily loan rates in Foster City 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 06, 2021


Multifamily Lenders in Foster City, CA

All major multifamily lender types are lending in Foster City.


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 06, 2021


Foster City Market

The city of Foster City in San Mateo County has a population of 33,901. The median rent in San Mateo County for a 2 bedroom is $3,700. The median Foster City resident is 40 years old with a yearly income of $78,710. The average family has 3.08 members and a median household income of $158,529. Foster City has a 70% higher education rate. The unemployment rate in Foster City is 3.1%.


Population
33,901 people

County
San Mateo County

Renters

42.9% of Foster City households are renters.


Rent Burden

24.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
San Mateo County 1
California 2
National 2
Studio $2,447 $1,137 $737
1 bedroom $3,044 $1,291 $813
2 bedroom $3,700 $1,635 $1,015
3 bedroom $4,756 $2,254 $1,325
4 bedroom $5,176 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Foster City Demographics


Median Individual Income
$78,710 / year

Median Household Income
$158,529 / year

Families w/ Dual Incomes
54%

Unemployment Rate
3.1%
Household Income Distribution
Foster City, CA

Median Age
40 years

Avg Family Size
3.08 people
Age Distribution
Foster City, CA

College Education or Above
70%

STEM College Graduates
62%
Education Distribution
Foster City, CA
Source: U.S. Census Bureau

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