Tracy is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Tracy are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Tracy are slightly higher than the national average. Tracy 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 Tracy.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Tracy 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 Tracy.
The city of Tracy in San Joaquin County has a population of 94,740. The median rent in San Joaquin County for a 2 bedroom is $1,367. The median Tracy resident is 34 years old with a yearly income of $38,942. The average family has 3.81 members and a median household income of $92,046. Tracy has a 22% higher education rate. The unemployment rate in Tracy is 5.3%.
37.2% of Tracy households are renters.
29.3% median household income spent on rent.
Bedrooms |
San Joaquin County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $909 | $1,137 | $737 |
| 1 bedroom | $1,037 | $1,291 | $813 |
| 2 bedroom | $1,367 | $1,635 | $1,015 |
| 3 bedroom | $1,956 | $2,254 | $1,325 |
| 4 bedroom | $2,367 | $2,613 | $1,521 |
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