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Multifamily Loans in
Monterey Park, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Monterey Park, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Monterey Park 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 $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.15% - 3.39%
10 Year Fixed 3.38% - 3.62%
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®
$7.5M to $100M
5 Year Fixed 2.98% - 3.23%
7 Year Fixed 3.14% - 3.59%
10 Year Fixed 3.20% - 3.60%
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 Monterey Park 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 Monterey Park, CA

All major multifamily lender types are lending in Monterey Park.


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 Dec 06, 2021


Monterey Park Market

The city of Monterey Park in Los Angeles County has a population of 59,669. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median Monterey Park resident is 44 years old with a yearly income of $26,262. The average family has 3.39 members and a median household income of $61,819. Monterey Park has a 32% higher education rate. The unemployment rate in Monterey Park is 5.2%.


Population
59,669 people

County
Los Angeles County

Renters

47.9% of Monterey Park households are renters.


Rent Burden

37.1% 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

Monterey Park Demographics


Median Individual Income
$26,262 / year

Median Household Income
$61,819 / year

Families w/ Dual Incomes
53%

Unemployment Rate
5.2%
Household Income Distribution
Monterey Park, CA

Median Age
44 years

Avg Family Size
3.39 people
Age Distribution
Monterey Park, CA

College Education or Above
32%

STEM College Graduates
48%
Education Distribution
Monterey Park, CA
Source: U.S. Census Bureau

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