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.
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 | 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 Santa Fe.
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%.
37.3% of Santa Fe households are renters.
30.1% median household income spent on rent.
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 |
We're here to help.