Corona is located in a good market for 5+ unit multifamily loans. Multifamily loans in Corona are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Corona are competitive. Corona 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 Corona.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Corona are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.18% - 5.42% |
| 10 Year Fixed | 5.19% - 5.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Corona.
The city of Corona in Riverside County has a population of 169,868. The median rent in Riverside County for a 2 bedroom is $1,506. The median Corona resident is 35 years old with a yearly income of $33,690. The average family has 3.93 members and a median household income of $83,752. Corona has a 27% higher education rate. The unemployment rate in Corona is 5.1%.
35.9% of Corona households are renters.
36.6% median household income spent on rent.
Bedrooms |
Riverside County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,035 | $1,137 | $737 |
| 1 bedroom | $1,199 | $1,291 | $813 |
| 2 bedroom | $1,506 | $1,635 | $1,015 |
| 3 bedroom | $2,077 | $2,254 | $1,325 |
| 4 bedroom | $2,567 | $2,613 | $1,521 |
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