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Multifamily Loans in
Lake Magdalene, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Lake Magdalene, FL

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

All major multifamily lender types are lending in Lake Magdalene.


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


Lake Magdalene Market

The city of Lake Magdalene in Hillsborough County has a population of 30,805. The median rent in Hillsborough County for a 2 bedroom is $1,375. The median Lake Magdalene resident is 44 years old with a yearly income of $32,903. The average family has 3.14 members and a median household income of $63,270. Lake Magdalene has a 38% higher education rate. The unemployment rate in Lake Magdalene is 4.3%.


Population
30,805 people

County
Hillsborough County

Renters

29.4% of Lake Magdalene households are renters.


Rent Burden

30.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hillsborough County 1
Florida 2
National 2
Studio $1,070 $822 $737
1 bedroom $1,125 $891 $813
2 bedroom $1,375 $1,089 $1,015
3 bedroom $1,786 $1,448 $1,325
4 bedroom $2,194 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lake Magdalene Demographics


Median Individual Income
$32,903 / year

Median Household Income
$63,270 / year

Families w/ Dual Incomes
50%

Unemployment Rate
4.3%
Household Income Distribution
Lake Magdalene, FL

Median Age
44 years

Avg Family Size
3.14 people
Age Distribution
Lake Magdalene, FL

College Education or Above
38%

STEM College Graduates
42%
Education Distribution
Lake Magdalene, FL
Source: U.S. Census Bureau

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