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Multifamily Loans in
Coachella, CA

Overview

Coachella is located in a good market for 5+ unit multifamily loans. Multifamily loans in Coachella are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Coachella are competitive. Coachella apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Coachella.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Coachella, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Coachella 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 $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.52% - 3.76%
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®
$7.5M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Coachella 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 03, 2021


Multifamily Lenders in Coachella, CA

All major multifamily lender types are lending in Coachella.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 03, 2021


Coachella Market

The city of Coachella in Riverside County has a population of 45,743. The median rent in Riverside County for a 2 bedroom is $1,506. The median Coachella resident is 35 years old with a yearly income of $21,299. The average family has 4.23 members and a median household income of $34,224. Coachella has a 4% higher education rate. The unemployment rate in Coachella is 14.3%.


Population
45,743 people

County
Riverside County

Renters

28.6% of Coachella households are renters.


Rent Burden

41.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Riverside County 1
California 2
National 2
Studio $1,035 $1,137 $737
1 bedroom $1,199 $1,291 $813
2 bedroom $1,506 $1,635 $1,015
3 bedroom $2,077 $2,254 $1,325
4 bedroom $2,567 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Coachella Demographics


Median Individual Income
$21,299 / year

Median Household Income
$34,224 / year

Families w/ Dual Incomes
59%

Unemployment Rate
14.3%
Household Income Distribution
Coachella, CA

Median Age
35 years

Avg Family Size
4.23 people
Age Distribution
Coachella, CA

College Education or Above
4%

STEM College Graduates
36%
Education Distribution
Coachella, CA
Source: U.S. Census Bureau

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