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Multifamily Loans in
Cape Coral, FL

Overview

Cape Coral is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Cape Coral are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Cape Coral are slightly higher than the national average. Cape Coral apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Cape Coral.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Cape Coral, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cape Coral 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
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 Cape Coral 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 Cape Coral, FL

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


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 08, 2021


Cape Coral Market

The city of Cape Coral in Lee County has a population of 194,495. The median rent in Lee County for a 2 bedroom is $1,282. The median Cape Coral resident is 47 years old with a yearly income of $30,000. The average family has 3.31 members and a median household income of $61,599. Cape Coral has a 23% higher education rate. The unemployment rate in Cape Coral is 6.0%.


Population
194,495 people

County
Lee County

Renters

25.5% of Cape Coral households are renters.


Rent Burden

30.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lee County 1
Florida 2
National 2
Studio $997 $822 $737
1 bedroom $1,019 $891 $813
2 bedroom $1,282 $1,089 $1,015
3 bedroom $1,670 $1,448 $1,325
4 bedroom $1,887 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cape Coral Demographics


Median Individual Income
$30,000 / year

Median Household Income
$61,599 / year

Families w/ Dual Incomes
47%

Unemployment Rate
6.0%
Household Income Distribution
Cape Coral, FL

Median Age
47 years

Avg Family Size
3.31 people
Age Distribution
Cape Coral, FL

College Education or Above
23%

STEM College Graduates
40%
Education Distribution
Cape Coral, FL
Source: U.S. Census Bureau

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