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Multifamily Loans in
Palm Desert, CA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Palm Desert, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Palm Desert 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Palm Desert 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 08, 2021


Multifamily Lenders in Palm Desert, CA

All major multifamily lender types are lending in Palm Desert.


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 08, 2021


Palm Desert Market

The city of Palm Desert in Riverside County has a population of 53,275. The median rent in Riverside County for a 2 bedroom is $1,506. The median Palm Desert resident is 55 years old with a yearly income of $31,643. The average family has 2.77 members and a median household income of $59,977. Palm Desert has a 37% higher education rate. The unemployment rate in Palm Desert is 5.2%.


Population
53,275 people

County
Riverside County

Renters

37.2% of Palm Desert households are renters.


Rent Burden

38% 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

Palm Desert Demographics


Median Individual Income
$31,643 / year

Median Household Income
$59,977 / year

Families w/ Dual Incomes
34%

Unemployment Rate
5.2%
Household Income Distribution
Palm Desert, CA

Median Age
55 years

Avg Family Size
2.77 people
Age Distribution
Palm Desert, CA

College Education or Above
37%

STEM College Graduates
39%
Education Distribution
Palm Desert, CA
Source: U.S. Census Bureau

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