Lathrop is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Lathrop are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Lathrop are slightly higher than the national average. Lathrop 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 Lathrop.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lathrop 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 Lathrop.
The city of Lathrop in San Joaquin County has a population of 24,483. The median rent in San Joaquin County for a 2 bedroom is $1,367. The median Lathrop resident is 32 years old with a yearly income of $30,555. The average family has 4.28 members and a median household income of $85,805. Lathrop has a 19% higher education rate. The unemployment rate in Lathrop is 6.6%.
25.4% of Lathrop households are renters.
34% median household income spent on rent.
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 |
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