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Multifamily Loans in
Palm Springs, FL

Overview

Palm Springs is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Palm Springs are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Palm Springs are some of the lowest nationally. Palm Springs 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 Palm Springs.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Palm Springs, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Palm Springs 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 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.43% - 3.67%
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 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.23% - 3.63%
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 Springs 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 Springs, FL

All major multifamily lender types are lending in Palm Springs.


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


Palm Springs Market

The city of Palm Springs in Palm Beach County has a population of 25,216. The median rent in Palm Beach County for a 2 bedroom is $1,590. The median Palm Springs resident is 36 years old with a yearly income of $22,835. The average family has 3.61 members and a median household income of $44,162. Palm Springs has a 16% higher education rate. The unemployment rate in Palm Springs is 5.2%.


Population
25,216 people

County
Palm Beach County

Renters

55.5% of Palm Springs households are renters.


Rent Burden

36.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Palm Beach County 1
Florida 2
National 2
Studio $1,065 $822 $737
1 bedroom $1,278 $891 $813
2 bedroom $1,590 $1,089 $1,015
3 bedroom $2,149 $1,448 $1,325
4 bedroom $2,585 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Palm Springs Demographics


Median Individual Income
$22,835 / year

Median Household Income
$44,162 / year

Families w/ Dual Incomes
55%

Unemployment Rate
5.2%
Household Income Distribution
Palm Springs, FL

Median Age
36 years

Avg Family Size
3.61 people
Age Distribution
Palm Springs, FL

College Education or Above
16%

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

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