Loading...

Multifamily Loans in
Carlsbad, NM

Overview

Carlsbad is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Carlsbad are considered greater risk due to market dynamics. Interest rates for multifamily loans in Carlsbad are higher than the national average. Carlsbad 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 Carlsbad.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Carlsbad, NM

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Carlsbad 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 Carlsbad 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 Carlsbad, NM

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


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


Carlsbad Market

The city of Carlsbad in Eddy County has a population of 29,810. The median rent in Eddy County for a 2 bedroom is $1,114. The median Carlsbad resident is 35 years old with a yearly income of $30,289. The average family has 3.12 members and a median household income of $69,193. Carlsbad has a 18% higher education rate. The unemployment rate in Carlsbad is 3.8%.


Population
29,810 people

County
Eddy County

Renters

32.2% of Carlsbad households are renters.


Rent Burden

26.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Eddy County 1
New Mexico 2
National 2
Studio $914 $682 $737
1 bedroom $920 $728 $813
2 bedroom $1,114 $898 $1,015
3 bedroom $1,594 $1,212 $1,325
4 bedroom $1,929 $1,440 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Carlsbad Demographics


Median Individual Income
$30,289 / year

Median Household Income
$69,193 / year

Families w/ Dual Incomes
53%

Unemployment Rate
3.8%
Household Income Distribution
Carlsbad, NM

Median Age
35 years

Avg Family Size
3.12 people
Age Distribution
Carlsbad, NM

College Education or Above
18%

STEM College Graduates
47%
Education Distribution
Carlsbad, NM
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day