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Multifamily Loans in
Oildale, CA

Overview

Oildale is located in a good market for 5+ unit multifamily loans. Multifamily loans in Oildale are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Oildale are competitive. Oildale 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 Oildale.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Oildale, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Oildale 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 3.37% - 3.61%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.52% - 3.76%
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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Oildale 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 08, 2021


Multifamily Lenders in Oildale, CA

All major multifamily lender types are lending in Oildale.


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 08, 2021


Oildale Market

The city of Oildale in Kern County has a population of 34,763. The median rent in Kern County for a 2 bedroom is $1,039. The median Oildale resident is 32 years old with a yearly income of $20,882. The average family has 3.45 members and a median household income of $38,099. Oildale has a 9% higher education rate. The unemployment rate in Oildale is 15.0%.


Population
34,763 people

County
Kern County

Renters

66.2% of Oildale households are renters.


Rent Burden

38.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kern County 1
California 2
National 2
Studio $786 $1,137 $737
1 bedroom $796 $1,291 $813
2 bedroom $1,039 $1,635 $1,015
3 bedroom $1,487 $2,254 $1,325
4 bedroom $1,799 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Oildale Demographics


Median Individual Income
$20,882 / year

Median Household Income
$38,099 / year

Families w/ Dual Incomes
36%

Unemployment Rate
15.0%
Household Income Distribution
Oildale, CA

Median Age
32 years

Avg Family Size
3.45 people
Age Distribution
Oildale, CA

College Education or Above
9%

STEM College Graduates
41%
Education Distribution
Oildale, CA
Source: U.S. Census Bureau

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