Morgan Hill is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Morgan Hill are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Morgan Hill are some of the lowest nationally. Morgan Hill 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 Morgan Hill.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Morgan Hill 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 Morgan Hill.
The city of Morgan Hill in Santa Clara County has a population of 45,952. The median rent in Santa Clara County for a 2 bedroom is $3,223. The median Morgan Hill resident is 39 years old with a yearly income of $50,106. The average family has 3.36 members and a median household income of $124,419. Morgan Hill has a 44% higher education rate. The unemployment rate in Morgan Hill is 4.0%.
26.1% of Morgan Hill households are renters.
30.3% 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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