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Multifamily Loans in
Ormond Beach, FL

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Ormond Beach, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ormond 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Ormond 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 03, 2021


Multifamily Lenders in Ormond Beach, FL

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Ormond 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 03, 2021


Ormond Beach Market

The city of Ormond Beach in Volusia County has a population of 43,759. The median rent in Volusia County for a 2 bedroom is $1,110. The median Ormond Beach resident is 51 years old with a yearly income of $30,172. The average family has 3 members and a median household income of $54,432. Ormond Beach has a 31% higher education rate. The unemployment rate in Ormond Beach is 3.4%.


Population
43,759 people

County
Volusia County

Renters

26% of Ormond Beach households are renters.


Rent Burden

37.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Volusia County 1
Florida 2
National 2
Studio $732 $822 $737
1 bedroom $905 $891 $813
2 bedroom $1,110 $1,089 $1,015
3 bedroom $1,486 $1,448 $1,325
4 bedroom $1,624 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ormond Beach Demographics


Median Individual Income
$30,172 / year

Median Household Income
$54,432 / year

Families w/ Dual Incomes
43%

Unemployment Rate
3.4%
Household Income Distribution
Ormond Beach, FL

Median Age
51 years

Avg Family Size
3 people
Age Distribution
Ormond Beach, FL

College Education or Above
31%

STEM College Graduates
39%
Education Distribution
Ormond Beach, FL
Source: U.S. Census Bureau

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