San Bernardino, California, a city known for its rich history and cultural diversity, is becoming a hotspot for affordable housing, thanks to the availability of HUD housing loans. These loans, backed by the Department of Housing and Urban Development (HUD), are making homeownership a reality for many residents in this bustling city. The local housing market is experiencing a significant transformation, with HUD housing loans playing a pivotal role in this change.

Local Housing Market Overview

The housing market in San Bernardino is characterized by a mix of traditional single-family homes, multifamily properties, and new housing developments. The city's commitment to affordable housing is evident in its support for HUD housing loans, which are helping to bridge the gap between housing costs and income levels. According to HUD data, the median home price in San Bernardino is significantly lower than the state average, making it an attractive option for first-time homebuyers and investors alike.

Furthermore, the city is witnessing a surge in new housing projects, many of which are being financed through HUD housing loans. These developments are not only increasing the availability of affordable housing but also contributing to the city's economic growth and revitalization efforts. The city's housing authority continues to work closely with HUD to ensure that these loans remain accessible to those who need them most.

Economic Landscape and Demographic Trends

San Bernardino's economy is diverse and robust, with key sectors including healthcare, education, and logistics. The city is home to several higher education institutions and major healthcare facilities, which contribute significantly to the local economy. According to the Bureau of Labor Statistics, the city's unemployment rate is lower than the national average, indicating a healthy job market.

Demographically, San Bernardino is a city of contrasts. It is home to a mix of young professionals, families, and retirees, each contributing to the city's unique cultural fabric. The U.S. Census Bureau data shows a steady population growth in recent years, which is driving increased demand for affordable housing. The availability of HUD housing loans is playing a crucial role in meeting this demand, ensuring that San Bernardino continues to be a city where everyone can find a place to call home.

Today's Interest Rates in San Bernardino

Find today's rates in the table below.

Please note that these are only benchmark index rates — each loan product will have a rate that varies depending on the property, the location, the borrower's financial strength and experience, and several other factors.

Our Experts

When it comes to getting a HUD loan for your multifamily property, there are several amazing options. The names of the loans themselves are not particularly descriptive, however — more alphabet soup than proper name — yet they have major differences in purpose, eligibility, and terms.

Our team connects you with lenders across the U.S. to find the best financing terms for your property, even if that ends up being outside the world of HUD financing. It doesn't matter if you're buying or building, renovating or expanding, shopping your loan to multiple lenders puts you in a strong position to pick the financing terms that meet your needs.

Our experienced team of capital markets advisors will source the very best terms from our unparalleled network of lenders to ensure your property gets the best financing terms available. We offer this service completely free of charge.

Looking for more information about San Bernardino? Read on below. Otherwise, click the button below, and we'll get right back to you with your free multifamily loan quote.

Current HUD Multifamily Loans in San Bernardino

There are a wide range of HUD financing options for multifamily properties in San Bernardino. Keep reading to learn which one could be the most suitable for your property.

HUD 223(f) Loans

A HUD 223(f) loan is an extremely versatile financing option that can be used for the acquisition or refinance of a multifamily property with more than five units. With long, fully amortizing terms, fixed interest rates and high LTVs, these loans can be the ideal financing vehicle to acquire a multifamily property.

HUD 221(d)(4) Loans

The HUD 221(d)(4) loan is the highest-leverage, lowest-cost construction loan available for a multifamily development. Offering terms of up to 43 years at a fixed interest rate, this financing is extremely popular with developers for good reason. During construction, the loan is interest-only (for up to three years), and upon completion the note has a fully amortizing, 40-year term.

HUD 223(a)(7) Loans

Fast isn't what most people might think of when they think of getting a HUD multifamily loan. However, a HUD 223(a)(7) loan offers both speed and simplicity, with fewer reports and documentation needed. At the same time, this program offers loans with lengthy, fully amortizing terms, and low, fixed rates in a non-recourse package.

Note that while a HUD 223(a)(7) loan can be a wonderful option, it is only available for properties with existing HUD multifamily debt.

HUD 241(a) Loans

If you need supplemental financing for your apartment building in San Bernardino, a HUD 241(a) loan could be a great option. These loans are non-recourse and offer financing at a loan-to-cost ratio of 90% for for-profit entities and 95% for nonprofits. You need an existing HUD loan on your apartment building or healthcare property to qualify.

Interest rates are fixed, and the loan's term length typically will match the term of the senior HUD loan on the property, though in many cases this term can be extended up to 40 years.

HUD 232/223(f) Loans

HUD's healthcare property loan, the 232/223(f) loan, is similar to the previously mentioned HUD 223(f) financing option. Useful for purchasing or refinancing healthcare properties (including skilled nursing and assisted living facilities), the loan does have some restrictions in terms of commercial space. However, the benefits of a 35-year, fully amortizing term at a fixed rate is unparalleled in the healthcare sector.

Think a HUD multifamily loan could be right for your property in San Bernardino? Add your details to the form below, and we’ll match you with the best lender — and loan — for your investment strategy.

Multifamily Property Insurance in San Bernardino

This part isn't about loans, but it's just as important to your investment's success: insurance.

Multifamily insurance premiums have shot through the roof over the past few years, as I'm sure you know. Whether you own (or plan to own) a market-rate apartment building or an affordable housing property, this will have a huge impact on your profitability — and, worst case, ability to operate at all.

Janover Insurance Group is dedicated to finding the best insurance solutions for your multifamily property in San Bernardino, regardless of if it's affordable housing or if you're using a HUD loan. Click to get a free insurance quote for your property — no obligation whatsoever.