Tulare is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Tulare are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Tulare are slightly higher than the national average. Tulare 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 Tulare.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Tulare 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 Tulare.
The city of Tulare in Tulare County has a population of 65,496. The median rent in Tulare County for a 2 bedroom is $1,014. The median Tulare resident is 28 years old with a yearly income of $27,448. The average family has 3.82 members and a median household income of $54,037. Tulare has a 11% higher education rate. The unemployment rate in Tulare is 6.9%.
43.3% of Tulare households are renters.
35.2% median household income spent on rent.
Bedrooms |
Tulare County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $764 | $1,137 | $737 |
| 1 bedroom | $769 | $1,291 | $813 |
| 2 bedroom | $1,014 | $1,635 | $1,015 |
| 3 bedroom | $1,413 | $2,254 | $1,325 |
| 4 bedroom | $1,651 | $2,613 | $1,521 |
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