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Multifamily Loans in
Lompoc, CA

Overview

Lompoc is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Lompoc are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Lompoc are slightly higher than the national average. Lompoc 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 Lompoc.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Lompoc, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lompoc 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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Lompoc 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 Lompoc, CA

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


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 06, 2021


Lompoc Market

The city of Lompoc in Santa Barbara County has a population of 42,853. The median rent in Santa Barbara County for a 2 bedroom is $2,564. The median Lompoc resident is 33 years old with a yearly income of $25,551. The average family has 3.77 members and a median household income of $54,855. Lompoc has a 13% higher education rate. The unemployment rate in Lompoc is 10.0%.


Population
42,853 people

County
Santa Barbara County

Renters

56.5% of Lompoc households are renters.


Rent Burden

34.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Santa Barbara County 1
California 2
National 2
Studio $1,867 $1,137 $737
1 bedroom $2,177 $1,291 $813
2 bedroom $2,564 $1,635 $1,015
3 bedroom $3,388 $2,254 $1,325
4 bedroom $3,877 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lompoc Demographics


Median Individual Income
$25,551 / year

Median Household Income
$54,855 / year

Families w/ Dual Incomes
56%

Unemployment Rate
10.0%
Household Income Distribution
Lompoc, CA

Median Age
33 years

Avg Family Size
3.77 people
Age Distribution
Lompoc, CA

College Education or Above
13%

STEM College Graduates
50%
Education Distribution
Lompoc, CA
Source: U.S. Census Bureau

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