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Multifamily Loans in
Redding, CA

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Redding, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Redding 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 3.73% - 3.97%
7 Year Fixed 3.54% - 3.78%
10 Year Fixed 3.78% - 4.02%
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 3.35% - 3.75%
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 Redding 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 Redding, CA

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


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


Redding Market

The city of Redding in Shasta County has a population of 92,590. The median rent in Shasta County for a 2 bedroom is $1,293. The median Redding resident is 38 years old with a yearly income of $27,801. The average family has 2.96 members and a median household income of $54,278. Redding has a 26% higher education rate. The unemployment rate in Redding is 5.2%.


Population
92,590 people

County
Shasta County

Renters

45.8% of Redding households are renters.


Rent Burden

32.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Shasta County 1
California 2
National 2
Studio $853 $1,137 $737
1 bedroom $981 $1,291 $813
2 bedroom $1,293 $1,635 $1,015
3 bedroom $1,850 $2,254 $1,325
4 bedroom $2,239 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Redding Demographics


Median Individual Income
$27,801 / year

Median Household Income
$54,278 / year

Families w/ Dual Incomes
44%

Unemployment Rate
5.2%
Household Income Distribution
Redding, CA

Median Age
38 years

Avg Family Size
2.96 people
Age Distribution
Redding, CA

College Education or Above
26%

STEM College Graduates
46%
Education Distribution
Redding, CA
Source: U.S. Census Bureau

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