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Multifamily Loans in
Norwalk, CA

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Norwalk, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Norwalk 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 3.06% - 3.31%
7 Year Fixed 3.23% - 3.68%
10 Year Fixed 3.20% - 3.60%
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 Norwalk 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 Norwalk, CA

All major multifamily lender types are lending in Norwalk.


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 03, 2021


Norwalk Market

The city of Norwalk in Los Angeles County has a population of 103,949. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median Norwalk resident is 35 years old with a yearly income of $27,396. The average family has 4.15 members and a median household income of $70,667. Norwalk has a 19% higher education rate. The unemployment rate in Norwalk is 5.8%.


Population
103,949 people

County
Los Angeles County

Renters

36.4% of Norwalk households are renters.


Rent Burden

35.9% 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

Norwalk Demographics


Median Individual Income
$27,396 / year

Median Household Income
$70,667 / year

Families w/ Dual Incomes
60%

Unemployment Rate
5.8%
Household Income Distribution
Norwalk, CA

Median Age
35 years

Avg Family Size
4.15 people
Age Distribution
Norwalk, CA

College Education or Above
19%

STEM College Graduates
43%
Education Distribution
Norwalk, CA
Source: U.S. Census Bureau

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