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Multifamily Loans in
South Gate, CA

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in South Gate, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in South Gate 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 3.06% - 3.31%
7 Year Fixed 3.23% - 3.68%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in South Gate 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 03, 2021


Multifamily Lenders in South Gate, CA

All major multifamily lender types are lending in South Gate.


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 03, 2021


South Gate Market

The city of South Gate in Los Angeles County has a population of 93,444. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median South Gate resident is 32 years old with a yearly income of $22,569. The average family has 4.18 members and a median household income of $52,321. South Gate has a 9% higher education rate. The unemployment rate in South Gate is 9.6%.


Population
93,444 people

County
Los Angeles County

Renters

57.1% of South Gate households are renters.


Rent Burden

34.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Los Angeles County 1
California 2
National 2
Studio $1,488 $1,137 $737
1 bedroom $1,746 $1,291 $813
2 bedroom $2,238 $1,635 $1,015
3 bedroom $2,974 $2,254 $1,325
4 bedroom $3,243 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

South Gate Demographics


Median Individual Income
$22,569 / year

Median Household Income
$52,321 / year

Families w/ Dual Incomes
56%

Unemployment Rate
9.6%
Household Income Distribution
South Gate, CA

Median Age
32 years

Avg Family Size
4.18 people
Age Distribution
South Gate, CA

College Education or Above
9%

STEM College Graduates
42%
Education Distribution
South Gate, CA
Source: U.S. Census Bureau

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