Palm Tree is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Palm Tree are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Palm Tree are slightly higher than the national average. Palm Tree 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 Tree.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Palm Tree are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.28% - 7.52% |
| 7 Year Fixed | 6.89% - 7.13% |
| 10 Year Fixed | 6.88% - 7.12% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Palm Tree.
The city of Palm Tree in Orange County has a population of 24,666. The median rent in Orange County for a 2 bedroom is $1,575. The median Palm Tree resident is 14 years old with a yearly income of $22,357. The average family has 5.94 members and a median household income of $31,203. Palm Tree has a 6% higher education rate. The unemployment rate in Palm Tree is 4.5%.
71.7% of Palm Tree households are renters.
57.7% median household income spent on rent.
Bedrooms |
Orange County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $1,169 | $909 | $737 |
| 1 bedroom | $1,246 | $990 | $813 |
| 2 bedroom | $1,575 | $1,202 | $1,015 |
| 3 bedroom | $2,005 | $1,537 | $1,325 |
| 4 bedroom | $2,251 | $1,692 | $1,521 |
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