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Multifamily Loans in
Fort Walton Beach, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Fort Walton Beach, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Walton 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 $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 Walton 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 08, 2021


Multifamily Lenders in Fort Walton Beach, FL

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


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 Walton Beach Market

The city of Fort Walton Beach in Okaloosa County has a population of 22,521. The median rent in Okaloosa County for a 2 bedroom is $1,258. The median Fort Walton Beach resident is 42 years old with a yearly income of $28,158. The average family has 3.01 members and a median household income of $54,330. Fort Walton Beach has a 27% higher education rate. The unemployment rate in Fort Walton Beach is 5.9%.


Population
22,521 people

County
Okaloosa County

Renters

40.9% of Fort Walton Beach households are renters.


Rent Burden

35.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Okaloosa County 1
Florida 2
National 2
Studio $1,052 $822 $737
1 bedroom $1,058 $891 $813
2 bedroom $1,258 $1,089 $1,015
3 bedroom $1,679 $1,448 $1,325
4 bedroom $2,178 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fort Walton Beach Demographics


Median Individual Income
$28,158 / year

Median Household Income
$54,330 / year

Families w/ Dual Incomes
52%

Unemployment Rate
5.9%
Household Income Distribution
Fort Walton Beach, FL

Median Age
42 years

Avg Family Size
3.01 people
Age Distribution
Fort Walton Beach, FL

College Education or Above
27%

STEM College Graduates
37%
Education Distribution
Fort Walton Beach, FL
Source: U.S. Census Bureau

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