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Multifamily Loans in
Marina, CA

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Marina, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Marina 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 Marina 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 Marina, CA

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


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


Marina Market

The city of Marina in Monterey County has a population of 22,781. The median rent in Monterey County for a 2 bedroom is $1,951. The median Marina resident is 34 years old with a yearly income of $30,072. The average family has 3.37 members and a median household income of $64,258. Marina has a 29% higher education rate. The unemployment rate in Marina is 5.1%.


Population
22,781 people

County
Monterey County

Renters

57.3% of Marina households are renters.


Rent Burden

31.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Monterey County 1
California 2
National 2
Studio $1,467 $1,137 $737
1 bedroom $1,595 $1,291 $813
2 bedroom $1,951 $1,635 $1,015
3 bedroom $2,792 $2,254 $1,325
4 bedroom $3,061 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Marina Demographics


Median Individual Income
$30,072 / year

Median Household Income
$64,258 / year

Families w/ Dual Incomes
56%

Unemployment Rate
5.1%
Household Income Distribution
Marina, CA

Median Age
34 years

Avg Family Size
3.37 people
Age Distribution
Marina, CA

College Education or Above
29%

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

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