Belmont is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Belmont are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Belmont are some of the lowest nationally. Belmont 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 Belmont.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Belmont are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Belmont.
The city of Belmont in San Mateo County has a population of 26,941. The median rent in San Mateo County for a 2 bedroom is $3,700. The median Belmont resident is 41 years old with a yearly income of $75,162. The average family has 3.05 members and a median household income of $156,052. Belmont has a 65% higher education rate. The unemployment rate in Belmont is 3.2%.
39.2% of Belmont households are renters.
30.2% median household income spent on rent.
Bedrooms |
San Mateo County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $2,447 | $1,137 | $737 |
| 1 bedroom | $3,044 | $1,291 | $813 |
| 2 bedroom | $3,700 | $1,635 | $1,015 |
| 3 bedroom | $4,756 | $2,254 | $1,325 |
| 4 bedroom | $5,176 | $2,613 | $1,521 |
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