Moreno Valley Apartment Building Loans
At Select Commercial, our primary expertise in Moreno Valley is in multifamily financing. We're dedicated to providing the most competitive rates and tailored solutions for multifamily investments in the city. However, if you're also exploring broader commercial real estate opportunities in Moreno Valley, our city-specific commercial mortgage page offers a wealth of information and resources. Beyond the city, for those seeking comprehensive rates on all loan products available across the 48 states, our comprehensive rate page offers competitive rates for loans starting at $1,500,000.
Moreno Valley Multifamily Loan Rates - updated 09/26/23
|Multifamily Loan > $6Million||Get Free Quote|
|Multifamily 5 Yr Fixed||5.90%||Up to 80%|
|Multifamily 7 Yr Fixed||5.78%||Up to 80%|
|Multifamily 10 Yr Fixed||5.64%||Up to 80%|
|Multifamily Loan < $6Million||Get Free Quote|
|Multifamily 5 Yr Fixed||6.16%||Up to 80%|
|Multifamily 7 Yr Fixed||6.09%||Up to 80%|
|Multifamily 10 Yr Fixed||5.97%||Up to 80%|
Moreno Valley Multifamily Loan Benefits
Moreno Valley Apartment Loan rates start as low as 5.64% (as of September 26th, 2023)
• A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily financing
• Terms and amortizations up to 30 years
• Multifamily loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation
Recent TRUSTPILOT Reviews
Select Commercial Funding Reviews from TRUSTPILOT
A three year journey
"Thanks Stephen for all of your hard work in getting our deal closed! I appreciate your professionalism and patience throughout a complicated process. You always were there for my partner and I whenever we had questions and needed answers quick. It was a pleasure to have worked with you and Select Commercial!"
Latest Expert Insights from Stephen A. Sobin
Stephen A. Sobin, the president of Select Commercial Funding LLC, is a renowned expert in the field of multifamily financing. His insights and perspectives are regularly sought by leading industry publications. Here are his latest contributions that highlight his deep understanding of the multifamily financing landscape and his commitment to providing clear, insightful analysis on key industry issues.
Decoding "Junk Fees" in Rental Housing
In another latest contribution to Multi-Housing News, Sobin provided expert commentary in an article titled "What's Next for Junk Fees? The Industry Weighs In". He clarified the difference between legitimate fees collected for various third-party services and so-called "junk fees". Sobin emphasized the importance of borrowers understanding their rights in negotiating all loan terms and the obligation of lenders to disclose all fees.
Understanding the Impact of Federal Reserve's Decisions
In a recent article titled "How the Fed's Pause on Interest Rates Impacts Multifamily" published by Multi-Housing News, Sobin shared his expert insights on the Federal Reserve's decision to pause interest rate hikes. He accurately predicted that the Fed would not raise rates in June, citing recent bank failures and lingering concerns about a potential recession.
Stay tuned for more expert insights from Stephen A. Sobin on the evolving multifamily financing landscape.
Frequently Asked Questions
Is multi-family real estate a good investment in 2023?
Inflation fears, high interest rates, and the prospect of recession have slowed the pace of the commercial real estate market considerably. Some property types are outperforming others. Apartment buildings in desirable neighborhoods are performing well, as owners have been able to raise rents and keep up with rising interest rates. Multifamily properties in smaller and less desirable areas, or areas where unemployment is rising, are not performing as well, as rent increases are harder to implement. In the office sector, only medical office buildings are generating lender interest. General office properties have underperformed the market as a result of the work from home policies established during the Covid-19 pandemic. Office demand is unlikely to return to pre-Covid levels making the office sector extremely hard to navigate right now. In the retail sector, essential service businesses, such as grocery stores and pharmacies, are performing well, while traditional brick and mortar retailers are still feeling the effects of Covid-19 and the competition from online retailers. Many malls are experiencing record high vacancy levels, and some are being repositioned for other purposes. In the industrial sector, we are seeing strong demand for warehouse and distribution space to accommodate the online retailers. Industrial space in urban markets and close to transportation are performing very well. We expect to see sales prices for underperforming properties to drop in 2023 as investors gravitate to better positioned properties.
There are many different types of lenders offering a myriad of different loan products to finance the acquisition or refinance of apartment properties nationwide. These lenders include agency lenders (Fannie Mae and Freddie Mac), local and national banks, insurance companies, credit unions and private lenders.
Most lenders write apartment loans for five, seven or ten years (fixed) with a 30 year amortization. It is also possible to obtain loans that are fixed for up to 30 years, although this is not the norm. Rates are typically based on a margin over the corresponding US Treasury rate.
Lenders offer non-recourse to strong borrowers and solid properties. The borrower will be expected to have strong credit, good net worth and liquidity, and experience owning and managing similar properties. The property will be expected to demonstrate solid long term positive cash flow, be in good to excellent condition, and be located in a strong market with low vacancy rates.
Apartment loans are typically screened and pre-approved in 2-3 days. Since lenders require appraisals, environmental and property condition reports, and title, closings will usually take 45-60 days from application.
Recent Banking Failures Likely To Impact California Multifamily Lending
The recent collapse of Silicon Valley Bank and Signature Bank has sent shockwaves through the business and real estate lending sectors. As a leading CA commercial mortgage broker with over 30+ years of experience, Select Commercial knows that the multifamily sector is not immune to these developments. Here's how these banking failures could impact multifamily lending:
Regional Banks Under Pressure
Regional banks, which provide significant liquidity to the apartment sector, are likely to face increased pressure. The collapse of SVB and Signature Bank has raised concerns about the stability of smaller banks. This could lead to a pullback from regional banks providing loans to the multifamily sector, making it more challenging for developers and investors to secure financing.
Developers could face significant challenges, particularly in securing construction loans and value-add renovation dollars. The current environment is leading to a slowdown in construction lending and a return to traditional underwriting and banker skepticism. This could particularly impact the affordable housing sector, where developers need their financing lined up to secure tax credits.
Volatility in the CMBS Market
CMBS loans have experienced turbulence following the bank failures. This volatility could impact a new crop of lenders that have emerged over the past half-decade, many of which are capital markets-dependent. If the securitization market stabilizes, some of the CMBS and bridge lenders may re-enter the market to fill the liquidity gaps left by regional lenders.
Interest Rate Uncertainty
The bank failures could also contribute to uncertainty around commercial mortgage rates. If these failures lead to a slowdown in rate hikes by the Federal Reserve, this could potentially benefit the commercial real estate market in the long run. However, it's too early to predict the exact impact on apartment transaction volume.
In summary, the recent banking failures have the potential to significantly impact how banks handle multifamily loans. We will closely monitoring these developments to provide the best advice and service to my clients during these uncertain times.
Apartment Loan Types We Serve
If you are looking to purchase or refinance a Moreno Valley apartment building, don't hesitate to contact us. We arrange financing in the city of Moreno Valley for the following:
- Large urban high-rise multifamily buildings
- Suburban garden multifamilycomplexes
- Small multifamily buildings containing 5+ units
- Underlying cooperative multifamily building loans
- Portfolios of small multifamily properties and/or single-family rental properties
- Other multi-family and mixed-use properties
Apartment Loan Helpful ArticlesHow to Get the Best Rate on a Multifamily Loan
How to Buy an Apartment Building
How to Invest in an Apartment Building
Are You Shopping for an Apartment Building Loan?
How To Get The Best Rates On An Apartment Refinance
Moreno Valley Multifamily Loan and Rental Overview
For stakeholders and investors interested in the multifamily loan sector in Moreno Valley, understanding the city's rental market is crucial. As of August 2023, Moreno Valley offers a diverse rental landscape.
Moreno Valley's Rental Landscape
- 1-Bedroom Apartment: The average rent for a 1-bedroom apartment is $1,790 as of August 2023. This represents a 13% decrease compared to the previous year.
- 2-Bedroom Apartment: The average rent for a 2-bedroom apartment is $2,150 as of August 2023.
- 3-Bedroom Apartment: The average rent for a 3-bedroom apartment is $2,595 as of August 2023.
Investing in Moreno Valley's Multifamily Sector
For those considering Moreno Valley Multifamily Loans, these insights into the rental market are invaluable. With Moreno Valley's rental market continuously evolving, staying updated is key to making informed investment decisions.
Popular Neighborhoods in Moreno Valley
Here are some popular neighborhoods in Moreno Valley, each with its unique characteristics:
- Hidden Springs: Known for its scenic beauty and outdoor activities.
- Moreno Valley Ranch: A residential area with a mix of modern and traditional homes.
- Box Springs: Offers a range of outdoor activities and is known for its excellent school district.
- Edgemont: A small, quiet neighborhood ideal for families.
- Sunnymead Ranch: Known for its excellent schools and community parks.
Whether you are purchasing or refinancing, we have the right solutions available for your multifamily mortgage loans. We will entertain apartment loan requests of all sizes, beginning at $1,500,000. Get started with a Free Commercial Mortgage Loan Quote.
Moreno Valley Apartment Loans
Select Commercial provides apartment loans throughout Moreno Valley, California including, but not limited to, the areas below. We provide apartment loans in most major cities throughout the United States.