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Multifamily Loans in
Monrovia, CA

Overview

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

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in Monrovia, CA

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

All major multifamily lender types are lending in Monrovia.


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


Monrovia Market

The city of Monrovia in Los Angeles County has a population of 36,331. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median Monrovia resident is 40 years old with a yearly income of $35,839. The average family has 3.42 members and a median household income of $77,111. Monrovia has a 37% higher education rate. The unemployment rate in Monrovia is 5.9%.


Population
36,331 people

County
Los Angeles County

Renters

53.2% of Monrovia households are renters.


Rent Burden

30% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Los Angeles County 1
California 2
National 2
Studio $1,488 $1,137 $737
1 bedroom $1,746 $1,291 $813
2 bedroom $2,238 $1,635 $1,015
3 bedroom $2,974 $2,254 $1,325
4 bedroom $3,243 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Monrovia Demographics


Median Individual Income
$35,839 / year

Median Household Income
$77,111 / year

Families w/ Dual Incomes
60%

Unemployment Rate
5.9%
Household Income Distribution
Monrovia, CA

Median Age
40 years

Avg Family Size
3.42 people
Age Distribution
Monrovia, CA

College Education or Above
37%

STEM College Graduates
44%
Education Distribution
Monrovia, CA
Source: U.S. Census Bureau

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