Napa is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Napa are considered greater risk due to market dynamics. Interest rates for multifamily loans in Napa are higher than the national average. Napa apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Napa.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Napa 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 | 5.63% - 5.87% |
| 7 Year Fixed | 5.24% - 5.48% |
| 10 Year Fixed | 5.28% - 5.52% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Napa.
The city of Napa in Napa County has a population of 78,130. The median rent in Napa County for a 2 bedroom is $2,203. The median Napa resident is 39 years old with a yearly income of $37,801. The average family has 3.39 members and a median household income of $84,043. Napa has a 34% higher education rate. The unemployment rate in Napa is 4.4%.
41.7% of Napa households are renters.
33.6% median household income spent on rent.
Bedrooms |
Napa County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,454 | $1,137 | $737 |
| 1 bedroom | $1,672 | $1,291 | $813 |
| 2 bedroom | $2,203 | $1,635 | $1,015 |
| 3 bedroom | $3,085 | $2,254 | $1,325 |
| 4 bedroom | $3,096 | $2,613 | $1,521 |
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