Westminster is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Westminster are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Westminster are some of the lowest nationally. Westminster 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 Westminster.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Westminster 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 | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
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 | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Westminster.
The city of Westminster in Orange County has a population of 90,643. The median rent in Orange County for a 2 bedroom is $2,507. The median Westminster resident is 42 years old with a yearly income of $25,937. The average family has 3.72 members and a median household income of $62,625. Westminster has a 27% higher education rate. The unemployment rate in Westminster is 5.3%.
48% of Westminster households are renters.
50.2% median household income spent on rent.
Bedrooms |
Orange County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,805 | $1,137 | $737 |
| 1 bedroom | $2,031 | $1,291 | $813 |
| 2 bedroom | $2,507 | $1,635 | $1,015 |
| 3 bedroom | $3,470 | $2,254 | $1,325 |
| 4 bedroom | $3,997 | $2,613 | $1,521 |
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