Simi Valley is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Simi Valley are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Simi Valley are slightly higher than the national average. Simi Valley 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 Simi Valley.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Simi Valley 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 Simi Valley.
The city of Simi Valley in Ventura County has a population of 125,613. The median rent in Ventura County for a 2 bedroom is $2,102. The median Simi Valley resident is 41 years old with a yearly income of $39,900. The average family has 3.44 members and a median household income of $99,151. Simi Valley has a 34% higher education rate. The unemployment rate in Simi Valley is 4.5%.
27.8% of Simi Valley 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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