Carlsbad is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Carlsbad are considered greater risk due to market dynamics. Interest rates for multifamily loans in Carlsbad are higher than the national average. Carlsbad 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 Carlsbad.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Carlsbad are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.28% - 5.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Carlsbad.
The city of Carlsbad in Eddy County has a population of 29,810. The median rent in Eddy County for a 2 bedroom is $1,114. The median Carlsbad resident is 35 years old with a yearly income of $30,289. The average family has 3.12 members and a median household income of $69,193. Carlsbad has a 18% higher education rate. The unemployment rate in Carlsbad is 3.8%.
32.2% of Carlsbad households are renters.
26.3% median household income spent on rent.
Bedrooms |
Eddy County 1 |
New Mexico 2 |
National 2 |
|---|---|---|---|
| Studio | $914 | $682 | $737 |
| 1 bedroom | $920 | $728 | $813 |
| 2 bedroom | $1,114 | $898 | $1,015 |
| 3 bedroom | $1,594 | $1,212 | $1,325 |
| 4 bedroom | $1,929 | $1,440 | $1,521 |
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