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Multifamily Loans in
Port Orange, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Port Orange, FL

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

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


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 Orange Market

The city of Port Orange in Volusia County has a population of 64,842. The median rent in Volusia County for a 2 bedroom is $1,110. The median Port Orange resident is 46 years old with a yearly income of $28,825. The average family has 3 members and a median household income of $51,883. Port Orange has a 26% higher education rate. The unemployment rate in Port Orange is 5.4%.


Population
64,842 people

County
Volusia County

Renters

27.6% of Port Orange households are renters.


Rent Burden

40.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Volusia County 1
Florida 2
National 2
Studio $732 $822 $737
1 bedroom $905 $891 $813
2 bedroom $1,110 $1,089 $1,015
3 bedroom $1,486 $1,448 $1,325
4 bedroom $1,624 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Port Orange Demographics


Median Individual Income
$28,825 / year

Median Household Income
$51,883 / year

Families w/ Dual Incomes
42%

Unemployment Rate
5.4%
Household Income Distribution
Port Orange, FL

Median Age
46 years

Avg Family Size
3 people
Age Distribution
Port Orange, FL

College Education or Above
26%

STEM College Graduates
40%
Education Distribution
Port Orange, FL
Source: U.S. Census Bureau

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