El Cerrito is located in a strong market for 5+ unit multifamily loans. Multifamily loans in El Cerrito are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in El Cerrito are some of the lowest nationally. El Cerrito 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 El Cerrito.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in El Cerrito 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 El Cerrito.
The city of El Cerrito in Contra Costa County has a population of 25,508. The median rent in Contra Costa County for a 2 bedroom is $2,641. The median El Cerrito resident is 43 years old with a yearly income of $50,054. The average family has 2.94 members and a median household income of $108,298. El Cerrito has a 64% higher education rate. The unemployment rate in El Cerrito is 4.4%.
40.5% of El Cerrito households are renters.
31.2% median household income spent on rent.
Bedrooms |
Contra Costa County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,768 | $1,137 | $737 |
| 1 bedroom | $2,143 | $1,291 | $813 |
| 2 bedroom | $2,641 | $1,635 | $1,015 |
| 3 bedroom | $3,541 | $2,254 | $1,325 |
| 4 bedroom | $4,281 | $2,613 | $1,521 |
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