Los Banos is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Los Banos are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Los Banos are slightly higher than the national average. Los Banos 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 Los Banos.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Los Banos 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 Los Banos.
The city of Los Banos in Merced County has a population of 41,036. The median rent in Merced County for a 2 bedroom is $1,148. The median Los Banos resident is 30 years old with a yearly income of $26,814. The average family has 4.01 members and a median household income of $62,874. Los Banos has a 11% higher education rate. The unemployment rate in Los Banos is 13.3%.
43.2% of Los Banos households are renters.
33.5% median household income spent on rent.
Bedrooms |
Merced County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $779 | $1,137 | $737 |
| 1 bedroom | $949 | $1,291 | $813 |
| 2 bedroom | $1,148 | $1,635 | $1,015 |
| 3 bedroom | $1,643 | $2,254 | $1,325 |
| 4 bedroom | $1,988 | $2,613 | $1,521 |
We're here to help.