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Multifamily Loans in
Tracy, CA

Overview

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

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Tracy, CA

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

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


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


Tracy Market

The city of Tracy in San Joaquin County has a population of 94,740. The median rent in San Joaquin County for a 2 bedroom is $1,367. The median Tracy resident is 34 years old with a yearly income of $38,942. The average family has 3.81 members and a median household income of $92,046. Tracy has a 22% higher education rate. The unemployment rate in Tracy is 5.3%.


Population
94,740 people

County
San Joaquin County

Renters

37.2% of Tracy households are renters.


Rent Burden

29.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
San Joaquin County 1
California 2
National 2
Studio $909 $1,137 $737
1 bedroom $1,037 $1,291 $813
2 bedroom $1,367 $1,635 $1,015
3 bedroom $1,956 $2,254 $1,325
4 bedroom $2,367 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Tracy Demographics


Median Individual Income
$38,942 / year

Median Household Income
$92,046 / year

Families w/ Dual Incomes
63%

Unemployment Rate
5.3%
Household Income Distribution
Tracy, CA

Median Age
34 years

Avg Family Size
3.81 people
Age Distribution
Tracy, CA

College Education or Above
22%

STEM College Graduates
47%
Education Distribution
Tracy, CA
Source: U.S. Census Bureau

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