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Multifamily Loans in
Coral Terrace, FL

Overview

Coral Terrace is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Coral Terrace are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Coral Terrace are some of the lowest nationally. Coral Terrace apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Coral Terrace.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Coral Terrace, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Coral Terrace 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 $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.43% - 3.67%
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®
$7.5M to $100M
5 Year Fixed 3.06% - 3.31%
7 Year Fixed 3.23% - 3.68%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Coral Terrace 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 03, 2021


Multifamily Lenders in Coral Terrace, FL

All major multifamily lender types are lending in Coral Terrace.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 03, 2021


Coral Terrace Market

The city of Coral Terrace in Miami-Dade County has a population of 25,387. The median rent in Miami-Dade County for a 2 bedroom is $1,684. The median Coral Terrace resident is 45 years old with a yearly income of $26,051. The average family has 3.66 members and a median household income of $62,547. Coral Terrace has a 29% higher education rate. The unemployment rate in Coral Terrace is 2.0%.


Population
25,387 people

County
Miami-Dade County

Renters

32.8% of Coral Terrace households are renters.


Rent Burden

36% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Miami-Dade County 1
Florida 2
National 2
Studio $1,148 $822 $737
1 bedroom $1,336 $891 $813
2 bedroom $1,684 $1,089 $1,015
3 bedroom $2,245 $1,448 $1,325
4 bedroom $2,696 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Coral Terrace Demographics


Median Individual Income
$26,051 / year

Median Household Income
$62,547 / year

Families w/ Dual Incomes
56%

Unemployment Rate
2.0%
Household Income Distribution
Coral Terrace, FL

Median Age
45 years

Avg Family Size
3.66 people
Age Distribution
Coral Terrace, FL

College Education or Above
29%

STEM College Graduates
43%
Education Distribution
Coral Terrace, FL
Source: U.S. Census Bureau

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