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Multifamily Loans in
El Paso, TX

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in El Paso, TX

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in El Paso 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 3.47% - 3.71%
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 El Paso 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 El Paso, TX

All major multifamily lender types are lending in El Paso.


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


El Paso Market

The city of El Paso in El Paso County has a population of 681,728. The median rent in El Paso County for a 2 bedroom is $894. The median El Paso resident is 33 years old with a yearly income of $23,566. The average family has 3.62 members and a median household income of $47,568. El Paso has a 25% higher education rate. The unemployment rate in El Paso is 6.1%.


Population
681,728 people

County
El Paso County

Renters

41.1% of El Paso households are renters.


Rent Burden

31.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
El Paso County 1
Texas 2
National 2
Studio $590 $669 $737
1 bedroom $739 $738 $813
2 bedroom $894 $912 $1,015
3 bedroom $1,264 $1,210 $1,325
4 bedroom $1,522 $1,407 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

El Paso Demographics


Median Individual Income
$23,566 / year

Median Household Income
$47,568 / year

Families w/ Dual Incomes
49%

Unemployment Rate
6.1%
Household Income Distribution
El Paso, TX

Median Age
33 years

Avg Family Size
3.62 people
Age Distribution
El Paso, TX

College Education or Above
25%

STEM College Graduates
41%
Education Distribution
El Paso, TX
Source: U.S. Census Bureau

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