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Multifamily Loans in
Richmond, CA

Overview

Richmond is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Richmond are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Richmond are some of the lowest nationally. Richmond 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 Richmond.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Richmond, CA

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

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.15% - 3.39%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 2.98% - 3.23%
7 Year Fixed 3.14% - 3.59%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/05/2021. This is not an offer or commitment to lend. Multifamily loan rates in Richmond 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 06, 2021


Multifamily Lenders in Richmond, CA

All major multifamily lender types are lending in Richmond.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 06, 2021


Richmond Market

The city of Richmond in Contra Costa County has a population of 110,567. The median rent in Contra Costa County for a 2 bedroom is $2,641. The median Richmond resident is 36 years old with a yearly income of $31,628. The average family has 3.53 members and a median household income of $68,472. Richmond has a 28% higher education rate. The unemployment rate in Richmond is 6.0%.


Population
110,567 people

County
Contra Costa County

Renters

50.2% of Richmond households are renters.


Rent Burden

34.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Contra Costa County 1
California 2
National 2
Studio $1,768 $1,137 $737
1 bedroom $2,143 $1,291 $813
2 bedroom $2,641 $1,635 $1,015
3 bedroom $3,541 $2,254 $1,325
4 bedroom $4,281 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Richmond Demographics


Median Individual Income
$31,628 / year

Median Household Income
$68,472 / year

Families w/ Dual Incomes
53%

Unemployment Rate
6.0%
Household Income Distribution
Richmond, CA

Median Age
36 years

Avg Family Size
3.53 people
Age Distribution
Richmond, CA

College Education or Above
28%

STEM College Graduates
50%
Education Distribution
Richmond, CA
Source: U.S. Census Bureau

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