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Multifamily Loans in
Santee, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Santee, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Santee 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 $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 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
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 Santee 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 Santee, CA

All major multifamily lender types are lending in Santee.


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


Santee Market

The city of Santee in San Diego County has a population of 58,081. The median rent in San Diego County for a 2 bedroom is $2,254. The median Santee resident is 38 years old with a yearly income of $36,412. The average family has 3.33 members and a median household income of $87,098. Santee has a 30% higher education rate. The unemployment rate in Santee is 5.3%.


Population
58,081 people

County
San Diego County

Renters

28.2% of Santee households are renters.


Rent Burden

33.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
San Diego County 1
California 2
National 2
Studio $1,569 $1,137 $737
1 bedroom $1,743 $1,291 $813
2 bedroom $2,254 $1,635 $1,015
3 bedroom $3,170 $2,254 $1,325
4 bedroom $3,903 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Santee Demographics


Median Individual Income
$36,412 / year

Median Household Income
$87,098 / year

Families w/ Dual Incomes
61%

Unemployment Rate
5.3%
Household Income Distribution
Santee, CA

Median Age
38 years

Avg Family Size
3.33 people
Age Distribution
Santee, CA

College Education or Above
30%

STEM College Graduates
45%
Education Distribution
Santee, CA
Source: U.S. Census Bureau

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