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Multifamily Loans in
Santa Fe, NM

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Santa Fe, NM

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Santa Fe 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 Santa Fe 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 Santa Fe, NM

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


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


Santa Fe Market

The city of Santa Fe in Santa Fe County has a population of 84,683. The median rent in Santa Fe County for a 2 bedroom is $1,154. The median Santa Fe resident is 44 years old with a yearly income of $32,033. The average family has 3.13 members and a median household income of $57,972. Santa Fe has a 42% higher education rate. The unemployment rate in Santa Fe is 4.3%.


Population
84,683 people

County
Santa Fe County

Renters

37.3% of Santa Fe households are renters.


Rent Burden

30.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Santa Fe County 1
New Mexico 2
National 2
Studio $866 $682 $737
1 bedroom $1,012 $728 $813
2 bedroom $1,154 $898 $1,015
3 bedroom $1,468 $1,212 $1,325
4 bedroom $1,693 $1,440 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Santa Fe Demographics


Median Individual Income
$32,033 / year

Median Household Income
$57,972 / year

Families w/ Dual Incomes
47%

Unemployment Rate
4.3%
Household Income Distribution
Santa Fe, NM

Median Age
44 years

Avg Family Size
3.13 people
Age Distribution
Santa Fe, NM

College Education or Above
42%

STEM College Graduates
42%
Education Distribution
Santa Fe, NM
Source: U.S. Census Bureau

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