Fairfield is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Fairfield are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Fairfield are slightly higher than the national average. Fairfield 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 Fairfield.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fairfield 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 $6M |
|---|---|
| 5 Year Fixed | 5.53% - 5.77% |
| 7 Year Fixed | 5.17% - 5.41% |
| 10 Year Fixed | 5.18% - 5.42% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Fairfield.
The city of Fairfield in Solano County has a population of 117,133. The median rent in Solano County for a 2 bedroom is $1,767. The median Fairfield resident is 35 years old with a yearly income of $37,752. The average family has 3.49 members and a median household income of $84,557. Fairfield has a 28% higher education rate. The unemployment rate in Fairfield is 5.8%.
40.7% of Fairfield households are renters.
32% median household income spent on rent.
Bedrooms |
Solano County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,300 | $1,137 | $737 |
| 1 bedroom | $1,477 | $1,291 | $813 |
| 2 bedroom | $1,767 | $1,635 | $1,015 |
| 3 bedroom | $2,529 | $2,254 | $1,325 |
| 4 bedroom | $3,059 | $2,613 | $1,521 |
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