Oroville is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Oroville are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Oroville are slightly higher than the national average. Oroville 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 Oroville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Oroville 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 Oroville.
The city of Oroville in Butte County has a population of 20,737. The median rent in Butte County for a 2 bedroom is $1,270. The median Oroville resident is 34 years old with a yearly income of $17,028. The average family has 3.51 members and a median household income of $34,428. Oroville has a 13% higher education rate. The unemployment rate in Oroville is 8.7%.
54.2% of Oroville households are renters.
37.9% median household income spent on rent.
Bedrooms |
Butte County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $879 | $1,137 | $737 |
| 1 bedroom | $964 | $1,291 | $813 |
| 2 bedroom | $1,270 | $1,635 | $1,015 |
| 3 bedroom | $1,802 | $2,254 | $1,325 |
| 4 bedroom | $2,199 | $2,613 | $1,521 |
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