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Multifamily Loans in
Prunedale, CA

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Prunedale, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Prunedale 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
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 Prunedale 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 Prunedale, CA

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


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 03, 2021


Prunedale Market

The city of Prunedale in Monterey County has a population of 20,327. The median rent in Monterey County for a 2 bedroom is $1,951. The median Prunedale resident is 41 years old with a yearly income of $31,950. The average family has 3.79 members and a median household income of $89,137. Prunedale has a 23% higher education rate. The unemployment rate in Prunedale is 5.1%.


Population
20,327 people

County
Monterey County

Renters

21.5% of Prunedale households are renters.


Rent Burden

28.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Monterey County 1
California 2
National 2
Studio $1,467 $1,137 $737
1 bedroom $1,595 $1,291 $813
2 bedroom $1,951 $1,635 $1,015
3 bedroom $2,792 $2,254 $1,325
4 bedroom $3,061 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Prunedale Demographics


Median Individual Income
$31,950 / year

Median Household Income
$89,137 / year

Families w/ Dual Incomes
62%

Unemployment Rate
5.1%
Household Income Distribution
Prunedale, CA

Median Age
41 years

Avg Family Size
3.79 people
Age Distribution
Prunedale, CA

College Education or Above
23%

STEM College Graduates
53%
Education Distribution
Prunedale, CA
Source: U.S. Census Bureau

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