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Multifamily Loans in
Santa Cruz, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Santa Cruz, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Santa Cruz 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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Santa Cruz 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 Santa Cruz, CA

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


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 06, 2021


Santa Cruz Market

The city of Santa Cruz in Santa Cruz County has a population of 64,608. The median rent in Santa Cruz County for a 2 bedroom is $3,123. The median Santa Cruz resident is 29 years old with a yearly income of $26,231. The average family has 2.93 members and a median household income of $77,921. Santa Cruz has a 54% higher education rate. The unemployment rate in Santa Cruz is 7.7%.


Population
64,608 people

County
Santa Cruz County

Renters

53% of Santa Cruz households are renters.


Rent Burden

47.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Santa Cruz County 1
California 2
National 2
Studio $2,061 $1,137 $737
1 bedroom $2,370 $1,291 $813
2 bedroom $3,123 $1,635 $1,015
3 bedroom $4,080 $2,254 $1,325
4 bedroom $4,568 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Santa Cruz Demographics


Median Individual Income
$26,231 / year

Median Household Income
$77,921 / year

Families w/ Dual Incomes
53%

Unemployment Rate
7.7%
Household Income Distribution
Santa Cruz, CA

Median Age
29 years

Avg Family Size
2.93 people
Age Distribution
Santa Cruz, CA

College Education or Above
54%

STEM College Graduates
56%
Education Distribution
Santa Cruz, CA
Source: U.S. Census Bureau

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