Loading...

Multifamily Loans in
Porterville, CA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Porterville, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Porterville 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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
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 Porterville 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 Porterville, CA

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


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 08, 2021


Porterville Market

The city of Porterville in Tulare County has a population of 59,599. The median rent in Tulare County for a 2 bedroom is $1,014. The median Porterville resident is 31 years old with a yearly income of $20,204. The average family has 3.89 members and a median household income of $43,823. Porterville has a 12% higher education rate. The unemployment rate in Porterville is 12.4%.


Population
59,599 people

County
Tulare County

Renters

48.4% of Porterville households are renters.


Rent Burden

37.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Tulare County 1
California 2
National 2
Studio $764 $1,137 $737
1 bedroom $769 $1,291 $813
2 bedroom $1,014 $1,635 $1,015
3 bedroom $1,413 $2,254 $1,325
4 bedroom $1,651 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Porterville Demographics


Median Individual Income
$20,204 / year

Median Household Income
$43,823 / year

Families w/ Dual Incomes
48%

Unemployment Rate
12.4%
Household Income Distribution
Porterville, CA

Median Age
31 years

Avg Family Size
3.89 people
Age Distribution
Porterville, CA

College Education or Above
12%

STEM College Graduates
40%
Education Distribution
Porterville, CA
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day