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Multifamily Loans in
Delray Beach, FL

Overview

Delray Beach is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Delray Beach are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Delray Beach are some of the lowest nationally. Delray Beach 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 Delray Beach.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Delray Beach, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Delray Beach 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 Delray Beach 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 Delray Beach, FL

All major multifamily lender types are lending in Delray Beach.


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


Delray Beach Market

The city of Delray Beach in Palm Beach County has a population of 69,451. The median rent in Palm Beach County for a 2 bedroom is $1,590. The median Delray Beach resident is 48 years old with a yearly income of $31,059. The average family has 3.13 members and a median household income of $60,746. Delray Beach has a 38% higher education rate. The unemployment rate in Delray Beach is 6.4%.


Population
69,451 people

County
Palm Beach County

Renters

38.1% of Delray Beach households are renters.


Rent Burden

35.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Palm Beach County 1
Florida 2
National 2
Studio $1,065 $822 $737
1 bedroom $1,278 $891 $813
2 bedroom $1,590 $1,089 $1,015
3 bedroom $2,149 $1,448 $1,325
4 bedroom $2,585 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Delray Beach Demographics


Median Individual Income
$31,059 / year

Median Household Income
$60,746 / year

Families w/ Dual Incomes
49%

Unemployment Rate
6.4%
Household Income Distribution
Delray Beach, FL

Median Age
48 years

Avg Family Size
3.13 people
Age Distribution
Delray Beach, FL

College Education or Above
38%

STEM College Graduates
39%
Education Distribution
Delray Beach, FL
Source: U.S. Census Bureau

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