Clifton is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Clifton are considered greater risk due to market dynamics. Interest rates for multifamily loans in Clifton are higher than the national average. Clifton 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 Clifton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Clifton 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 Clifton.
The city of Clifton in Mesa County has a population of 20,748. The median rent in Mesa County for a 2 bedroom is $1,088. The median Clifton resident is 33 years old with a yearly income of $24,110. The average family has 3.06 members and a median household income of $43,452. Clifton has a 12% higher education rate. The unemployment rate in Clifton is 8.8%.
33.9% of Clifton households are renters.
44.1% median household income spent on rent.
Bedrooms |
Mesa County 1 |
Colorado 2 |
National 2 |
|---|---|---|---|
| Studio | $720 | $873 | $737 |
| 1 bedroom | $826 | $932 | $813 |
| 2 bedroom | $1,088 | $1,168 | $1,015 |
| 3 bedroom | $1,557 | $1,570 | $1,325 |
| 4 bedroom | $1,884 | $1,825 | $1,521 |
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