Selma is located in a good market for 5+ unit multifamily loans. Multifamily loans in Selma are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Selma are competitive. Selma 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 Selma.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Selma 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.18% - 5.42% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Selma.
The city of Selma in Fresno County has a population of 24,825. The median rent in Fresno County for a 2 bedroom is $1,134. The median Selma resident is 30 years old with a yearly income of $21,978. The average family has 3.97 members and a median household income of $40,815. Selma has a 10% higher education rate. The unemployment rate in Selma is 7.0%.
41.4% of Selma households are renters.
33.7% median household income spent on rent.
Bedrooms |
Fresno County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $847 | $1,137 | $737 |
| 1 bedroom | $907 | $1,291 | $813 |
| 2 bedroom | $1,134 | $1,635 | $1,015 |
| 3 bedroom | $1,608 | $2,254 | $1,325 |
| 4 bedroom | $1,862 | $2,613 | $1,521 |
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