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Multifamily Loans in
La Mesa, CA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in La Mesa, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in La Mesa 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 3.04% - 3.28%
7 Year Fixed 3.15% - 3.39%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 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 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.23% - 3.63%
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 La Mesa 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 La Mesa, CA

All major multifamily lender types are lending in La Mesa.


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 08, 2021


La Mesa Market

The city of La Mesa in San Diego County has a population of 59,249. The median rent in San Diego County for a 2 bedroom is $2,254. The median La Mesa resident is 36 years old with a yearly income of $34,479. The average family has 3.17 members and a median household income of $66,051. La Mesa has a 38% higher education rate. The unemployment rate in La Mesa is 7.0%.


Population
59,249 people

County
San Diego County

Renters

58.5% of La Mesa households are renters.


Rent Burden

35.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
San Diego County 1
California 2
National 2
Studio $1,569 $1,137 $737
1 bedroom $1,743 $1,291 $813
2 bedroom $2,254 $1,635 $1,015
3 bedroom $3,170 $2,254 $1,325
4 bedroom $3,903 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

La Mesa Demographics


Median Individual Income
$34,479 / year

Median Household Income
$66,051 / year

Families w/ Dual Incomes
52%

Unemployment Rate
7.0%
Household Income Distribution
La Mesa, CA

Median Age
36 years

Avg Family Size
3.17 people
Age Distribution
La Mesa, CA

College Education or Above
38%

STEM College Graduates
47%
Education Distribution
La Mesa, CA
Source: U.S. Census Bureau

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