Loading...

Multifamily Loans in
Las Cruces, NM

Overview

Las Cruces is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Las Cruces are considered greater risk due to market dynamics. Interest rates for multifamily loans in Las Cruces are higher than the national average. Las Cruces 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 Las Cruces.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Las Cruces, NM

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Las Cruces 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 $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.73% - 3.97%
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®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Las Cruces 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 04, 2021


Multifamily Lenders in Las Cruces, NM

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Las Cruces.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Las Cruces Market

The city of Las Cruces in Doña Ana County has a population of 103,432. The median rent in Doña Ana County for a 2 bedroom is $773. The median Las Cruces resident is 32 years old with a yearly income of $22,782. The average family has 3.15 members and a median household income of $43,022. Las Cruces has a 32% higher education rate. The unemployment rate in Las Cruces is 7.3%.


Population
103,432 people

County
Doña Ana County

Renters

46.1% of Las Cruces households are renters.


Rent Burden

36.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Doña Ana County 1
New Mexico 2
National 2
Studio $601 $682 $737
1 bedroom $635 $728 $813
2 bedroom $773 $898 $1,015
3 bedroom $1,106 $1,212 $1,325
4 bedroom $1,330 $1,440 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Las Cruces Demographics


Median Individual Income
$22,782 / year

Median Household Income
$43,022 / year

Families w/ Dual Incomes
44%

Unemployment Rate
7.3%
Household Income Distribution
Las Cruces, NM

Median Age
32 years

Avg Family Size
3.15 people
Age Distribution
Las Cruces, NM

College Education or Above
32%

STEM College Graduates
44%
Education Distribution
Las Cruces, NM
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day