Loading...

Multifamily Loans in
North Fort Myers, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in North Fort Myers, FL

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

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


North Fort Myers Market

The city of North Fort Myers in Lee County has a population of 42,770. The median rent in Lee County for a 2 bedroom is $1,282. The median North Fort Myers resident is 63 years old with a yearly income of $26,620. The average family has 2.83 members and a median household income of $46,964. North Fort Myers has a 19% higher education rate. The unemployment rate in North Fort Myers is 4.4%.


Population
42,770 people

County
Lee County

Renters

16.3% of North Fort Myers households are renters.


Rent Burden

31.1% 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

North Fort Myers Demographics


Median Individual Income
$26,620 / year

Median Household Income
$46,964 / year

Families w/ Dual Incomes
28%

Unemployment Rate
4.4%
Household Income Distribution
North Fort Myers, FL

Median Age
63 years

Avg Family Size
2.83 people
Age Distribution
North Fort Myers, FL

College Education or Above
19%

STEM College Graduates
38%
Education Distribution
North Fort Myers, 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