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Multifamily Loans in
Fleming Island, FL

Overview

Fleming Island is located in a good market for 5+ unit multifamily loans. Multifamily loans in Fleming Island are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Fleming Island are competitive. Fleming Island 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 Fleming Island.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Fleming Island, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fleming Island 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 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
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 Fleming Island 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 Fleming Island, FL

All major multifamily lender types are lending in Fleming Island.


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 08, 2021


Fleming Island Market

The city of Fleming Island in Clay County has a population of 28,676. The median rent in Clay County for a 2 bedroom is $1,195. The median Fleming Island resident is 43 years old with a yearly income of $42,439. The average family has 3.14 members and a median household income of $94,154. Fleming Island has a 44% higher education rate. The unemployment rate in Fleming Island is 6.1%.


Population
28,676 people

County
Clay County

Renters

18.5% of Fleming Island households are renters.


Rent Burden

29% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Clay County 1
Florida 2
National 2
Studio $801 $822 $737
1 bedroom $989 $891 $813
2 bedroom $1,195 $1,089 $1,015
3 bedroom $1,562 $1,448 $1,325
4 bedroom $1,989 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fleming Island Demographics


Median Individual Income
$42,439 / year

Median Household Income
$94,154 / year

Families w/ Dual Incomes
56%

Unemployment Rate
6.1%
Household Income Distribution
Fleming Island, FL

Median Age
43 years

Avg Family Size
3.14 people
Age Distribution
Fleming Island, FL

College Education or Above
44%

STEM College Graduates
38%
Education Distribution
Fleming Island, FL
Source: U.S. Census Bureau

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