Santa Paula is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Santa Paula are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Santa Paula are slightly higher than the national average. Santa Paula 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 Santa Paula.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Santa Paula 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 Santa Paula.
The city of Santa Paula in Ventura County has a population of 29,806. The median rent in Ventura County for a 2 bedroom is $2,102. The median Santa Paula resident is 32 years old with a yearly income of $26,003. The average family has 4 members and a median household income of $60,468. Santa Paula has a 14% higher education rate. The unemployment rate in Santa Paula is 7.3%.
45.9% of Santa Paula households are renters.
37.6% median household income spent on rent.
Bedrooms |
Ventura County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,387 | $1,137 | $737 |
| 1 bedroom | $1,660 | $1,291 | $813 |
| 2 bedroom | $2,102 | $1,635 | $1,015 |
| 3 bedroom | $2,940 | $2,254 | $1,325 |
| 4 bedroom | $3,486 | $2,613 | $1,521 |
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