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Multifamily Loans in
Calexico, CA

Overview

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.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Calexico, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Calexico 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 3.73% - 3.97%
7 Year Fixed 3.54% - 3.78%
10 Year Fixed 3.78% - 4.02%
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 12/05/2021. This is not an offer or commitment to lend. Multifamily loan rates in Calexico 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 06, 2021


Multifamily Lenders in Calexico, CA

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


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 06, 2021


Calexico Market

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%.


Population
39,825 people

County
Imperial County

Renters

44.1% of Calexico households are renters.


Rent Burden

48.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Calexico Demographics


Median Individual Income
$17,708 / year

Median Household Income
$43,592 / year

Families w/ Dual Incomes
53%

Unemployment Rate
15.3%
Household Income Distribution
Calexico, CA

Median Age
32 years

Avg Family Size
5.13 people
Age Distribution
Calexico, CA

College Education or Above
18%

STEM College Graduates
38%
Education Distribution
Calexico, CA
Source: U.S. Census Bureau

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