Loading...

Multifamily Loans in
Lakeland, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Lakeland, FL

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

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


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


Lakeland Market

The city of Lakeland in Polk County has a population of 112,136. The median rent in Polk County for a 2 bedroom is $1,099. The median Lakeland resident is 41 years old with a yearly income of $27,233. The average family has 3.21 members and a median household income of $47,511. Lakeland has a 26% higher education rate. The unemployment rate in Lakeland is 6.4%.


Population
112,136 people

County
Polk County

Renters

44.4% of Lakeland households are renters.


Rent Burden

31.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Polk County 1
Florida 2
National 2
Studio $853 $822 $737
1 bedroom $859 $891 $813
2 bedroom $1,099 $1,089 $1,015
3 bedroom $1,478 $1,448 $1,325
4 bedroom $1,896 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lakeland Demographics


Median Individual Income
$27,233 / year

Median Household Income
$47,511 / year

Families w/ Dual Incomes
41%

Unemployment Rate
6.4%
Household Income Distribution
Lakeland, FL

Median Age
41 years

Avg Family Size
3.21 people
Age Distribution
Lakeland, FL

College Education or Above
26%

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

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day