Milpitas is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Milpitas are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Milpitas are some of the lowest nationally. Milpitas apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Milpitas.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Milpitas are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Milpitas.
The city of Milpitas in Santa Clara County has a population of 84,196. The median rent in Santa Clara County for a 2 bedroom is $3,223. The median Milpitas resident is 36 years old with a yearly income of $47,772. The average family has 3.56 members and a median household income of $132,320. Milpitas has a 51% higher education rate. The unemployment rate in Milpitas is 3.7%.
35.6% of Milpitas households are renters.
28.9% median household income spent on rent.
Bedrooms |
Santa Clara County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $2,354 | $1,137 | $737 |
| 1 bedroom | $2,702 | $1,291 | $813 |
| 2 bedroom | $3,223 | $1,635 | $1,015 |
| 3 bedroom | $4,209 | $2,254 | $1,325 |
| 4 bedroom | $4,852 | $2,613 | $1,521 |
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