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Multifamily Loans in
Port Charlotte, FL

Overview

Port Charlotte is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Port Charlotte are considered greater risk due to market dynamics. Interest rates for multifamily loans in Port Charlotte are higher than the national average. Port Charlotte 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 Port Charlotte.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Port Charlotte, FL

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

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


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


Port Charlotte Market

The city of Port Charlotte in Charlotte County has a population of 62,327. The median rent in Charlotte County for a 2 bedroom is $1,131. The median Port Charlotte resident is 53 years old with a yearly income of $24,678. The average family has 3.12 members and a median household income of $46,603. Port Charlotte has a 19% higher education rate. The unemployment rate in Port Charlotte is 6.2%.


Population
62,327 people

County
Charlotte County

Renters

24.2% of Port Charlotte households are renters.


Rent Burden

36.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Charlotte County 1
Florida 2
National 2
Studio $847 $822 $737
1 bedroom $918 $891 $813
2 bedroom $1,131 $1,089 $1,015
3 bedroom $1,597 $1,448 $1,325
4 bedroom $1,958 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Port Charlotte Demographics


Median Individual Income
$24,678 / year

Median Household Income
$46,603 / year

Families w/ Dual Incomes
37%

Unemployment Rate
6.2%
Household Income Distribution
Port Charlotte, FL

Median Age
53 years

Avg Family Size
3.12 people
Age Distribution
Port Charlotte, FL

College Education or Above
19%

STEM College Graduates
38%
Education Distribution
Port Charlotte, FL
Source: U.S. Census Bureau

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