San Mateo is located in a strong market for 5+ unit multifamily loans. Multifamily loans in San Mateo are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in San Mateo are some of the lowest nationally. San Mateo 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 San Mateo.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in San Mateo 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 San Mateo.
The city of San Mateo in San Mateo County has a population of 104,430. The median rent in San Mateo County for a 2 bedroom is $3,700. The median San Mateo resident is 38 years old with a yearly income of $53,568. The average family has 3.27 members and a median household income of $124,842. San Mateo has a 54% higher education rate. The unemployment rate in San Mateo is 3.7%.
45.6% of San Mateo households are renters.
29.5% median household income spent on rent.
Bedrooms |
San Mateo County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $2,447 | $1,137 | $737 |
| 1 bedroom | $3,044 | $1,291 | $813 |
| 2 bedroom | $3,700 | $1,635 | $1,015 |
| 3 bedroom | $4,756 | $2,254 | $1,325 |
| 4 bedroom | $5,176 | $2,613 | $1,521 |
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