Loading...

Multifamily Loans in
Lake Elsinore, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Lake Elsinore, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lake Elsinore 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 Lake Elsinore 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 Lake Elsinore, CA

All major multifamily lender types are lending in Lake Elsinore.


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


Lake Elsinore Market

The city of Lake Elsinore in Riverside County has a population of 69,283. The median rent in Riverside County for a 2 bedroom is $1,506. The median Lake Elsinore resident is 31 years old with a yearly income of $29,345. The average family has 4.08 members and a median household income of $71,476. Lake Elsinore has a 20% higher education rate. The unemployment rate in Lake Elsinore is 8.2%.


Population
69,283 people

County
Riverside County

Renters

32.2% of Lake Elsinore households are renters.


Rent Burden

44.4% 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

Lake Elsinore Demographics


Median Individual Income
$29,345 / year

Median Household Income
$71,476 / year

Families w/ Dual Incomes
57%

Unemployment Rate
8.2%
Household Income Distribution
Lake Elsinore, CA

Median Age
31 years

Avg Family Size
4.08 people
Age Distribution
Lake Elsinore, CA

College Education or Above
20%

STEM College Graduates
46%
Education Distribution
Lake Elsinore, CA
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day