Redlands is located in a good market for 5+ unit multifamily loans. Multifamily loans in Redlands are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Redlands are competitive. Redlands apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Redlands.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Redlands are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.39% - 6.63% |
| 7 Year Fixed | 6.13% - 6.37% |
| 10 Year Fixed | 6.24% - 6.48% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Redlands.
The city of Redlands in San Bernardino County has a population of 71,513. The median rent in San Bernardino County for a 2 bedroom is $1,506. The median Redlands resident is 37 years old with a yearly income of $33,925. The average family has 3.36 members and a median household income of $74,839. Redlands has a 42% higher education rate. The unemployment rate in Redlands is 5.9%.
38.8% of Redlands households are renters.
34% median household income spent on rent.
Bedrooms |
San Bernardino County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,035 | $1,137 | $737 |
| 1 bedroom | $1,199 | $1,291 | $813 |
| 2 bedroom | $1,506 | $1,635 | $1,015 |
| 3 bedroom | $2,077 | $2,254 | $1,325 |
| 4 bedroom | $2,567 | $2,613 | $1,521 |
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