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Multifamily Loans in
Palm Coast, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Palm Coast, FL

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

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


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


Palm Coast Market

The city of Palm Coast in Flagler County has a population of 89,800. The median rent in Flagler County for a 2 bedroom is $1,173. The median Palm Coast resident is 49 years old with a yearly income of $26,444. The average family has 3.09 members and a median household income of $54,360. Palm Coast has a 23% higher education rate. The unemployment rate in Palm Coast is 5.0%.


Population
89,800 people

County
Flagler County

Renters

25.7% of Palm Coast households are renters.


Rent Burden

35.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Flagler County 1
Florida 2
National 2
Studio $793 $822 $737
1 bedroom $911 $891 $813
2 bedroom $1,173 $1,089 $1,015
3 bedroom $1,544 $1,448 $1,325
4 bedroom $1,741 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Palm Coast Demographics


Median Individual Income
$26,444 / year

Median Household Income
$54,360 / year

Families w/ Dual Incomes
38%

Unemployment Rate
5.0%
Household Income Distribution
Palm Coast, FL

Median Age
49 years

Avg Family Size
3.09 people
Age Distribution
Palm Coast, FL

College Education or Above
23%

STEM College Graduates
48%
Education Distribution
Palm Coast, FL
Source: U.S. Census Bureau

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