Debary is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Debary are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Debary are slightly higher than the national average. Debary 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 Debary.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Debary are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.18% - 7.42% |
| 7 Year Fixed | 6.82% - 7.06% |
| 10 Year Fixed | 6.73% - 6.97% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Debary.
The city of Debary in Volusia County has a population of 21,305. The median rent in Volusia County for a 2 bedroom is $1,110. The median Debary resident is 49 years old with a yearly income of $32,934. The average family has 2.97 members and a median household income of $65,316. Debary has a 28% higher education rate. The unemployment rate in Debary is 2.6%.
19.2% of Debary households are renters.
27.3% median household income spent on rent.
Bedrooms |
Volusia County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $732 | $822 | $737 |
| 1 bedroom | $905 | $891 | $813 |
| 2 bedroom | $1,110 | $1,089 | $1,015 |
| 3 bedroom | $1,486 | $1,448 | $1,325 |
| 4 bedroom | $1,624 | $1,716 | $1,521 |
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