National City is located in a strong market for 5+ unit multifamily loans. Multifamily loans in National City are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in National City are some of the lowest nationally. National City 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 National City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in National City are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.12% - 6.36% |
| 7 Year Fixed | 6.05% - 6.29% |
| 10 Year Fixed | 6.14% - 6.38% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in National City.
The city of National City in San Diego County has a population of 61,394. The median rent in San Diego County for a 2 bedroom is $2,254. The median National City resident is 34 years old with a yearly income of $24,647. The average family has 3.87 members and a median household income of $47,119. National City has a 14% higher education rate. The unemployment rate in National City is 6.6%.
64.6% of National City households are renters.
37.8% median household income spent on rent.
Bedrooms |
San Diego County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,569 | $1,137 | $737 |
| 1 bedroom | $1,743 | $1,291 | $813 |
| 2 bedroom | $2,254 | $1,635 | $1,015 |
| 3 bedroom | $3,170 | $2,254 | $1,325 |
| 4 bedroom | $3,903 | $2,613 | $1,521 |
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