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Multifamily Loans in
Orcutt, CA

Overview

Orcutt is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Orcutt are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Orcutt are slightly higher than the national average. Orcutt apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Orcutt.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Orcutt, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Orcutt 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 $6M
5 Year Fixed 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
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®
$6M to $100M
5 Year Fixed 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Orcutt 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 Orcutt, CA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Orcutt.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 06, 2021


Orcutt Market

The city of Orcutt in Santa Barbara County has a population of 31,118. The median rent in Santa Barbara County for a 2 bedroom is $2,564. The median Orcutt resident is 40 years old with a yearly income of $39,080. The average family has 3.22 members and a median household income of $91,343. Orcutt has a 30% higher education rate. The unemployment rate in Orcutt is 6.6%.


Population
31,118 people

County
Santa Barbara County

Renters

23% of Orcutt households are renters.


Rent Burden

26.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Santa Barbara County 1
California 2
National 2
Studio $1,867 $1,137 $737
1 bedroom $2,177 $1,291 $813
2 bedroom $2,564 $1,635 $1,015
3 bedroom $3,388 $2,254 $1,325
4 bedroom $3,877 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Orcutt Demographics


Median Individual Income
$39,080 / year

Median Household Income
$91,343 / year

Families w/ Dual Incomes
52%

Unemployment Rate
6.6%
Household Income Distribution
Orcutt, CA

Median Age
40 years

Avg Family Size
3.22 people
Age Distribution
Orcutt, CA

College Education or Above
30%

STEM College Graduates
47%
Education Distribution
Orcutt, CA
Source: U.S. Census Bureau

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