Manteca is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Manteca are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Manteca are slightly higher than the national average. Manteca 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 Manteca.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Manteca 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 | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
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 | 5.98% - 6.13% |
| 7 Year Fixed | 6.04% - 6.19% |
| 10 Year Fixed | 6.04% - 6.19% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Manteca.
The city of Manteca in San Joaquin County has a population of 83,028. The median rent in San Joaquin County for a 2 bedroom is $1,367. The median Manteca resident is 36 years old with a yearly income of $32,295. The average family has 3.58 members and a median household income of $72,867. Manteca has a 17% higher education rate. The unemployment rate in Manteca is 8.2%.
38.2% of Manteca households are renters.
34.7% 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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