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Multifamily Loans in
Hemet, CA

Overview

Hemet is located in a good market for 5+ unit multifamily loans. Multifamily loans in Hemet are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Hemet are competitive. Hemet 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 Hemet.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Hemet, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hemet 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 3.37% - 3.61%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.52% - 3.76%
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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
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 Hemet 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 Hemet, CA

All major multifamily lender types are lending in Hemet.


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


Hemet Market

The city of Hemet in Riverside County has a population of 85,334. The median rent in Riverside County for a 2 bedroom is $1,506. The median Hemet resident is 39 years old with a yearly income of $21,677. The average family has 3.65 members and a median household income of $39,726. Hemet has a 11% higher education rate. The unemployment rate in Hemet is 12.9%.


Population
85,334 people

County
Riverside County

Renters

41.5% of Hemet households are renters.


Rent Burden

39.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Riverside County 1
California 2
National 2
Studio $1,035 $1,137 $737
1 bedroom $1,199 $1,291 $813
2 bedroom $1,506 $1,635 $1,015
3 bedroom $2,077 $2,254 $1,325
4 bedroom $2,567 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hemet Demographics


Median Individual Income
$21,677 / year

Median Household Income
$39,726 / year

Families w/ Dual Incomes
36%

Unemployment Rate
12.9%
Household Income Distribution
Hemet, CA

Median Age
39 years

Avg Family Size
3.65 people
Age Distribution
Hemet, CA

College Education or Above
11%

STEM College Graduates
40%
Education Distribution
Hemet, CA
Source: U.S. Census Bureau

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