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Multifamily Loans in
Desert Hot Springs, CA

Overview

Desert Hot Springs is located in a good market for 5+ unit multifamily loans. Multifamily loans in Desert Hot Springs are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Desert Hot Springs are competitive. Desert Hot Springs 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 Desert Hot Springs.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Desert Hot Springs, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Desert Hot Springs 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 Desert Hot Springs 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 Desert Hot Springs, CA

All major multifamily lender types are lending in Desert Hot Springs.


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


Desert Hot Springs Market

The city of Desert Hot Springs in Riverside County has a population of 28,878. The median rent in Riverside County for a 2 bedroom is $1,506. The median Desert Hot Springs resident is 37 years old with a yearly income of $20,479. The average family has 3.53 members and a median household income of $33,046. Desert Hot Springs has a 12% higher education rate. The unemployment rate in Desert Hot Springs is 9.7%.


Population
28,878 people

County
Riverside County

Renters

55.6% of Desert Hot Springs households are renters.


Rent Burden

45.5% 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

Desert Hot Springs Demographics


Median Individual Income
$20,479 / year

Median Household Income
$33,046 / year

Families w/ Dual Incomes
37%

Unemployment Rate
9.7%
Household Income Distribution
Desert Hot Springs, CA

Median Age
37 years

Avg Family Size
3.53 people
Age Distribution
Desert Hot Springs, CA

College Education or Above
12%

STEM College Graduates
40%
Education Distribution
Desert Hot Springs, CA
Source: U.S. Census Bureau

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