Lake Havasu City is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Lake Havasu City are considered greater risk due to market dynamics. Interest rates for multifamily loans in Lake Havasu City are higher than the national average. Lake Havasu City 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 Lake Havasu City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lake Havasu City 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 | 7.28% - 7.52% |
| 7 Year Fixed | 6.79% - 7.03% |
| 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 Lake Havasu City.
The city of Lake Havasu City in Mohave County has a population of 55,865. The median rent in Mohave County for a 2 bedroom is $962. The median Lake Havasu City resident is 54 years old with a yearly income of $27,503. The average family has 2.66 members and a median household income of $53,605. Lake Havasu City has a 16% higher education rate. The unemployment rate in Lake Havasu City is 5.9%.
29.6% of Lake Havasu City households are renters.
27.2% median household income spent on rent.
Bedrooms |
Mohave County 1 |
Arizona 2 |
National 2 |
|---|---|---|---|
| Studio | $686 | $747 | $737 |
| 1 bedroom | $770 | $822 | $813 |
| 2 bedroom | $962 | $1,038 | $1,015 |
| 3 bedroom | $1,377 | $1,433 | $1,325 |
| 4 bedroom | $1,517 | $1,597 | $1,521 |
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