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Multifamily Loans in
Soledad, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Soledad, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Soledad 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 Soledad 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 Soledad, CA

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


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


Soledad Market

The city of Soledad in Monterey County has a population of 25,999. The median rent in Monterey County for a 2 bedroom is $1,951. The median Soledad resident is 36 years old with a yearly income of $20,352. The average family has 5.05 members and a median household income of $64,472. Soledad has a 7% higher education rate. The unemployment rate in Soledad is 3.0%.


Population
25,999 people

County
Monterey County

Renters

37.8% of Soledad households are renters.


Rent Burden

35.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Monterey County 1
California 2
National 2
Studio $1,467 $1,137 $737
1 bedroom $1,595 $1,291 $813
2 bedroom $1,951 $1,635 $1,015
3 bedroom $2,792 $2,254 $1,325
4 bedroom $3,061 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Soledad Demographics


Median Individual Income
$20,352 / year

Median Household Income
$64,472 / year

Families w/ Dual Incomes
55%

Unemployment Rate
3.0%
Household Income Distribution
Soledad, CA

Median Age
36 years

Avg Family Size
5.05 people
Age Distribution
Soledad, CA

College Education or Above
7%

STEM College Graduates
49%
Education Distribution
Soledad, CA
Source: U.S. Census Bureau

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