Calexico is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Calexico are considered greater risk due to market dynamics. Interest rates for multifamily loans in Calexico are higher than the national average. Calexico 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 Calexico.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Calexico are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.28% - 7.52% |
| 7 Year Fixed | 6.79% - 7.03% |
| 10 Year Fixed | 6.88% - 7.12% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Calexico.
The city of Calexico in Imperial County has a population of 39,825. The median rent in Imperial County for a 2 bedroom is $1,113. The median Calexico resident is 32 years old with a yearly income of $17,708. The average family has 5.13 members and a median household income of $43,592. Calexico has a 18% higher education rate. The unemployment rate in Calexico is 15.3%.
44.1% of Calexico households are renters.
48.4% median household income spent on rent.
Bedrooms |
Imperial County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $744 | $1,137 | $737 |
| 1 bedroom | $850 | $1,291 | $813 |
| 2 bedroom | $1,113 | $1,635 | $1,015 |
| 3 bedroom | $1,517 | $2,254 | $1,325 |
| 4 bedroom | $1,883 | $2,613 | $1,521 |
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