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Multifamily Loans in New Mexico

Overview

Of the 2,096,829 New Mexico residents, 125,526 (or 5.99%) live in 5+ unit apartment properties. New Mexico has approximately 79,130 multifamily units. Last year, 760 new apartment units were constructed in New Mexico, representing a 0.97% growth in units. Multifamily units make up 9.47% of the total housing stock in New Mexico.

Interest rates for multifamily loans in New Mexico are very competitive. New Mexico apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in New Mexico.

Get multifamily loan quotes for Sep 28, 2021


Multifamily Loan Rates in New Mexico

SoftQuotes' lender rates for 5+ unit multifamily loans in New Mexico are:

Loan Amount
$1M to $6M
5 Year Fixed 2.99% - 4.02%
7 Year Fixed 3.23% - 3.88%
10 Year Fixed 3.48% - 4.07%
Loan Amount
$6M to $100M
5 Year Fixed 2.54% - 2.94%
7 Year Fixed 2.83% - 3.43%
10 Year Fixed 2.95% - 3.50%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. This is not an offer or commitment to lend. Rates updated on 09/27/2021.

Get multifamily loan quotes for Sep 28, 2021


New Mexico Rents

The state of New Mexico prohibits rent control.

Bedrooms
Low1
High2
Average2
Studio $519 $914 $682
1 bedroom $557 $1,012 $728
2 bedroom $734 $1,246 $898
3 bedroom $918 $1,669 $1,212
4 bedroom $1,067 $2,157 $1,440
1 County median 2 Average of counties