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Multifamily Loans in
Fort Myers, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Fort Myers, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Myers 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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
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 Fort Myers 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 Fort Myers, FL

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


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 08, 2021


Fort Myers Market

The city of Fort Myers in Lee County has a population of 87,103. The median rent in Lee County for a 2 bedroom is $1,282. The median Fort Myers resident is 41 years old with a yearly income of $25,961. The average family has 3.34 members and a median household income of $46,409. Fort Myers has a 30% higher education rate. The unemployment rate in Fort Myers is 5.4%.


Population
87,103 people

County
Lee County

Renters

50.4% of Fort Myers households are renters.


Rent Burden

35.5% 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

Fort Myers Demographics


Median Individual Income
$25,961 / year

Median Household Income
$46,409 / year

Families w/ Dual Incomes
39%

Unemployment Rate
5.4%
Household Income Distribution
Fort Myers, FL

Median Age
41 years

Avg Family Size
3.34 people
Age Distribution
Fort Myers, FL

College Education or Above
30%

STEM College Graduates
40%
Education Distribution
Fort Myers, FL
Source: U.S. Census Bureau

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