Lemoore is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Lemoore are considered greater risk due to market dynamics. Interest rates for multifamily loans in Lemoore are higher than the national average. Lemoore apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Lemoore.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lemoore 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 | 5.63% - 5.87% |
| 7 Year Fixed | 5.24% - 5.48% |
| 10 Year Fixed | 5.28% - 5.52% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Lemoore.
The city of Lemoore in Kings County has a population of 26,725. The median rent in Kings County for a 2 bedroom is $1,182. The median Lemoore resident is 30 years old with a yearly income of $30,876. The average family has 3.41 members and a median household income of $63,605. Lemoore has a 20% higher education rate. The unemployment rate in Lemoore is 6.2%.
47.2% of Lemoore households are renters.
27.1% median household income spent on rent.
Bedrooms |
Kings County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $953 | $1,137 | $737 |
| 1 bedroom | $962 | $1,291 | $813 |
| 2 bedroom | $1,182 | $1,635 | $1,015 |
| 3 bedroom | $1,692 | $2,254 | $1,325 |
| 4 bedroom | $1,820 | $2,613 | $1,521 |
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