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Multifamily Loans in
Lemon Grove, CA

Overview

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

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in Lemon Grove, CA

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

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.19%
7 Year Fixed 3.42% - 4.00%
10 Year Fixed 3.46% - 3.95%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.16% - 3.26%
7 Year Fixed 3.10% - 3.34%
10 Year Fixed 3.49% - 3.73%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.24% - 3.74%
7 Year Fixed 3.12% - 3.70%
10 Year Fixed 3.16% - 3.65%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.46% - 3.96%
7 Year Fixed 3.59% - 4.29%
10 Year Fixed 3.53% - 4.18%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 01/28/2022. This is not an offer or commitment to lend. Multifamily loan rates in Lemon Grove 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 Jan 29, 2022


Multifamily Lenders in Lemon Grove, CA

All major multifamily lender types are lending in Lemon Grove.


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 Jan 29, 2022


Lemon Grove Market

The city of Lemon Grove in San Diego County has a population of 26,811. The median rent in San Diego County for a 2 bedroom is $2,254. The median Lemon Grove resident is 36 years old with a yearly income of $29,662. The average family has 3.72 members and a median household income of $63,548. Lemon Grove has a 19% higher education rate. The unemployment rate in Lemon Grove is 8.1%.


Population
26,811 people

County
San Diego County

Renters

47% of Lemon Grove households are renters.


Rent Burden

42.5% 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

Lemon Grove Demographics


Median Individual Income
$29,662 / year

Median Household Income
$63,548 / year

Families w/ Dual Incomes
52%

Unemployment Rate
8.1%
Household Income Distribution
Lemon Grove, CA

Median Age
36 years

Avg Family Size
3.72 people
Age Distribution
Lemon Grove, CA

College Education or Above
19%

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

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