Watsonville is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Watsonville are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Watsonville are slightly higher than the national average. Watsonville 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 Watsonville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Watsonville 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 Watsonville.
The city of Watsonville in Santa Cruz County has a population of 53,856. The median rent in Santa Cruz County for a 2 bedroom is $3,123. The median Watsonville resident is 31 years old with a yearly income of $23,236. The average family has 4.13 members and a median household income of $55,470. Watsonville has a 12% higher education rate. The unemployment rate in Watsonville is 7.5%.
56.8% of Watsonville households are renters.
43.1% median household income spent on rent.
Bedrooms |
Santa Cruz County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $2,061 | $1,137 | $737 |
| 1 bedroom | $2,370 | $1,291 | $813 |
| 2 bedroom | $3,123 | $1,635 | $1,015 |
| 3 bedroom | $4,080 | $2,254 | $1,325 |
| 4 bedroom | $4,568 | $2,613 | $1,521 |
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