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Multifamily Loans in
Alamogordo, NM

Overview

Alamogordo is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Alamogordo are considered greater risk due to market dynamics. Interest rates for multifamily loans in Alamogordo are higher than the national average. Alamogordo apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Alamogordo.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Alamogordo, NM

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Alamogordo are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.73% - 3.97%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Alamogordo may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Lenders in Alamogordo, NM

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Alamogordo.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Alamogordo Market

The city of Alamogordo in Otero County has a population of 31,980. The median rent in Otero County for a 2 bedroom is $820. The median Alamogordo resident is 36 years old with a yearly income of $23,917. The average family has 3.22 members and a median household income of $42,204. Alamogordo has a 20% higher education rate. The unemployment rate in Alamogordo is 6.4%.


Population
31,980 people

County
Otero County

Renters

42.8% of Alamogordo households are renters.


Rent Burden

29.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Otero County 1
New Mexico 2
National 2
Studio $651 $682 $737
1 bedroom $719 $728 $813
2 bedroom $820 $898 $1,015
3 bedroom $1,174 $1,212 $1,325
4 bedroom $1,420 $1,440 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Alamogordo Demographics


Median Individual Income
$23,917 / year

Median Household Income
$42,204 / year

Families w/ Dual Incomes
44%

Unemployment Rate
6.4%
Household Income Distribution
Alamogordo, NM

Median Age
36 years

Avg Family Size
3.22 people
Age Distribution
Alamogordo, NM

College Education or Above
20%

STEM College Graduates
40%
Education Distribution
Alamogordo, NM
Source: U.S. Census Bureau

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