Loma Linda is located in a good market for 5+ unit multifamily loans. Multifamily loans in Loma Linda are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Loma Linda are competitive. Loma Linda 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 Loma Linda.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Loma Linda are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 7.04% - 7.28% |
| 7 Year Fixed | 6.63% - 6.87% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Loma Linda.
The city of Loma Linda in San Bernardino County has a population of 24,482. The median rent in San Bernardino County for a 2 bedroom is $1,506. The median Loma Linda resident is 36 years old with a yearly income of $27,913. The average family has 3.18 members and a median household income of $55,607. Loma Linda has a 45% higher education rate. The unemployment rate in Loma Linda is 5.7%.
61.6% of Loma Linda households are renters.
37.4% median household income spent on rent.
Bedrooms |
San Bernardino 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 |
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