Lompoc is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Lompoc are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Lompoc are slightly higher than the national average. Lompoc 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 Lompoc.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lompoc 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 Lompoc.
The city of Lompoc in Santa Barbara County has a population of 42,853. The median rent in Santa Barbara County for a 2 bedroom is $2,564. The median Lompoc resident is 33 years old with a yearly income of $25,551. The average family has 3.77 members and a median household income of $54,855. Lompoc has a 13% higher education rate. The unemployment rate in Lompoc is 10.0%.
56.5% of Lompoc households are renters.
34.3% median household income spent on rent.
Bedrooms |
Santa Barbara County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,867 | $1,137 | $737 |
| 1 bedroom | $2,177 | $1,291 | $813 |
| 2 bedroom | $2,564 | $1,635 | $1,015 |
| 3 bedroom | $3,388 | $2,254 | $1,325 |
| 4 bedroom | $3,877 | $2,613 | $1,521 |
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