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Multifamily Loans in
Lathrop, CA

Overview

Lathrop is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Lathrop are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Lathrop are slightly higher than the national average. Lathrop apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Lathrop.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Lathrop, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lathrop 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 $6M
5 Year Fixed 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
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®
$6M to $100M
5 Year Fixed 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Lathrop 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 03, 2021


Multifamily Lenders in Lathrop, CA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Lathrop.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 03, 2021


Lathrop Market

The city of Lathrop in San Joaquin County has a population of 24,483. The median rent in San Joaquin County for a 2 bedroom is $1,367. The median Lathrop resident is 32 years old with a yearly income of $30,555. The average family has 4.28 members and a median household income of $85,805. Lathrop has a 19% higher education rate. The unemployment rate in Lathrop is 6.6%.


Population
24,483 people

County
San Joaquin County

Renters

25.4% of Lathrop households are renters.


Rent Burden

34% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
San Joaquin County 1
California 2
National 2
Studio $909 $1,137 $737
1 bedroom $1,037 $1,291 $813
2 bedroom $1,367 $1,635 $1,015
3 bedroom $1,956 $2,254 $1,325
4 bedroom $2,367 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lathrop Demographics


Median Individual Income
$30,555 / year

Median Household Income
$85,805 / year

Families w/ Dual Incomes
57%

Unemployment Rate
6.6%
Household Income Distribution
Lathrop, CA

Median Age
32 years

Avg Family Size
4.28 people
Age Distribution
Lathrop, CA

College Education or Above
19%

STEM College Graduates
41%
Education Distribution
Lathrop, CA
Source: U.S. Census Bureau

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