Del Rio is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Del Rio are considered greater risk due to market dynamics. Interest rates for multifamily loans in Del Rio are higher than the national average. Del Rio 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 Del Rio.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Del Rio 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 | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 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 Del Rio.
The city of Del Rio in Val Verde County has a population of 35,760. The median rent in Val Verde County for a 2 bedroom is $853. The median Del Rio resident is 34 years old with a yearly income of $20,363. The average family has 3.63 members and a median household income of $44,959. Del Rio has a 19% higher education rate. The unemployment rate in Del Rio is 5.1%.
39.4% of Del Rio households are renters.
27% median household income spent on rent.
Bedrooms |
Val Verde County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $643 | $669 | $737 |
| 1 bedroom | $647 | $738 | $813 |
| 2 bedroom | $853 | $912 | $1,015 |
| 3 bedroom | $1,152 | $1,210 | $1,325 |
| 4 bedroom | $1,157 | $1,407 | $1,521 |
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