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Multifamily Loans in
Estero, FL

Overview

Estero is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Estero are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Estero are slightly higher than the national average. Estero 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 Estero.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Estero, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Estero 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
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 Estero 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 Estero, FL

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


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 03, 2021


Estero Market

The city of Estero in Lee County has a population of 33,871. The median rent in Lee County for a 2 bedroom is $1,282. The median Estero resident is 64 years old with a yearly income of $39,302. The average family has 2.53 members and a median household income of $82,054. Estero has a 48% higher education rate. The unemployment rate in Estero is 4.4%.


Population
33,871 people

County
Lee County

Renters

13.9% of Estero 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

Estero Demographics


Median Individual Income
$39,302 / year

Median Household Income
$82,054 / year

Families w/ Dual Incomes
27%

Unemployment Rate
4.4%
Household Income Distribution
Estero, FL

Median Age
64 years

Avg Family Size
2.53 people
Age Distribution
Estero, FL

College Education or Above
48%

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

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