Montebello is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Montebello are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Montebello are some of the lowest nationally. Montebello 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 Montebello.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Montebello 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 | 6.77% - 7.01% |
| 7 Year Fixed | 6.55% - 6.79% |
| 10 Year Fixed | 6.59% - 6.83% |
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 | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Montebello.
The city of Montebello in Los Angeles County has a population of 61,954. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median Montebello resident is 36 years old with a yearly income of $25,155. The average family has 3.71 members and a median household income of $56,150. Montebello has a 20% higher education rate. The unemployment rate in Montebello is 7.0%.
56.8% of Montebello households are renters.
35.2% median household income spent on rent.
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 |
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