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Multifamily Loans in
Panama City, FL

Overview

Panama City is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Panama City are considered greater risk due to market dynamics. Interest rates for multifamily loans in Panama City are higher than the national average. Panama City apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Panama City.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Panama City, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Panama City 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Panama City 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 Panama City, FL

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


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


Panama City Market

The city of Panama City in Bay County has a population of 34,667. The median rent in Bay County for a 2 bedroom is $1,171. The median Panama City resident is 39 years old with a yearly income of $24,795. The average family has 3.16 members and a median household income of $43,953. Panama City has a 24% higher education rate. The unemployment rate in Panama City is 7.6%.


Population
34,667 people

County
Bay County

Renters

49.5% of Panama City households are renters.


Rent Burden

35.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Bay County 1
Florida 2
National 2
Studio $920 $822 $737
1 bedroom $1,004 $891 $813
2 bedroom $1,171 $1,089 $1,015
3 bedroom $1,630 $1,448 $1,325
4 bedroom $1,920 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Panama City Demographics


Median Individual Income
$24,795 / year

Median Household Income
$43,953 / year

Families w/ Dual Incomes
46%

Unemployment Rate
7.6%
Household Income Distribution
Panama City, FL

Median Age
39 years

Avg Family Size
3.16 people
Age Distribution
Panama City, FL

College Education or Above
24%

STEM College Graduates
45%
Education Distribution
Panama City, FL
Source: U.S. Census Bureau

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