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Multifamily Loans in
Lemoore, CA

Overview

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

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in Lemoore, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lemoore 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 $6M
5 Year Fixed 3.53% - 3.77%
7 Year Fixed 3.34% - 3.58%
10 Year Fixed 3.78% - 4.02%
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®
$6M to $100M
5 Year Fixed 3.61% - 4.11%
7 Year Fixed 3.74% - 4.44%
10 Year Fixed 3.68% - 4.33%
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 Lemoore 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 Lemoore, CA

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


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 Jan 29, 2022


Lemoore Market

The city of Lemoore in Kings County has a population of 26,725. The median rent in Kings County for a 2 bedroom is $1,182. The median Lemoore resident is 30 years old with a yearly income of $30,876. The average family has 3.41 members and a median household income of $63,605. Lemoore has a 20% higher education rate. The unemployment rate in Lemoore is 6.2%.


Population
26,725 people

County
Kings County

Renters

47.2% of Lemoore households are renters.


Rent Burden

27.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kings County 1
California 2
National 2
Studio $953 $1,137 $737
1 bedroom $962 $1,291 $813
2 bedroom $1,182 $1,635 $1,015
3 bedroom $1,692 $2,254 $1,325
4 bedroom $1,820 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lemoore Demographics


Median Individual Income
$30,876 / year

Median Household Income
$63,605 / year

Families w/ Dual Incomes
50%

Unemployment Rate
6.2%
Household Income Distribution
Lemoore, CA

Median Age
30 years

Avg Family Size
3.41 people
Age Distribution
Lemoore, CA

College Education or Above
20%

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

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