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Multifamily Loans in
Patterson, CA

Overview

Patterson is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Patterson are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Patterson are slightly higher than the national average. Patterson 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 Patterson.

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in Patterson, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Patterson are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.19%
7 Year Fixed 3.42% - 4.00%
10 Year Fixed 3.46% - 3.95%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.43% - 3.67%
7 Year Fixed 3.27% - 3.51%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.24% - 3.74%
7 Year Fixed 3.12% - 3.70%
10 Year Fixed 3.16% - 3.65%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.56% - 4.06%
7 Year Fixed 3.69% - 4.39%
10 Year Fixed 3.63% - 4.28%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 01/28/2022. This is not an offer or commitment to lend. Multifamily loan rates in Patterson 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 Jan 29, 2022


Multifamily Lenders in Patterson, CA

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


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 Jan 29, 2022


Patterson Market

The city of Patterson in Stanislaus County has a population of 22,524. The median rent in Stanislaus County for a 2 bedroom is $1,296. The median Patterson resident is 31 years old with a yearly income of $30,716. The average family has 3.96 members and a median household income of $69,233. Patterson has a 10% higher education rate. The unemployment rate in Patterson is 8.9%.


Population
22,524 people

County
Stanislaus County

Renters

38.8% of Patterson households are renters.


Rent Burden

34.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Stanislaus County 1
California 2
National 2
Studio $942 $1,137 $737
1 bedroom $1,045 $1,291 $813
2 bedroom $1,296 $1,635 $1,015
3 bedroom $1,835 $2,254 $1,325
4 bedroom $2,153 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Patterson Demographics


Median Individual Income
$30,716 / year

Median Household Income
$69,233 / year

Families w/ Dual Incomes
56%

Unemployment Rate
8.9%
Household Income Distribution
Patterson, CA

Median Age
31 years

Avg Family Size
3.96 people
Age Distribution
Patterson, CA

College Education or Above
10%

STEM College Graduates
34%
Education Distribution
Patterson, CA
Source: U.S. Census Bureau

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