Loading...

Multifamily Loans in
South Miami Heights, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in South Miami Heights, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in South Miami Heights 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 South Miami Heights 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 South Miami Heights, FL

All major multifamily lender types are lending in South Miami Heights.


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


South Miami Heights Market

The city of South Miami Heights in Miami-Dade County has a population of 37,119. The median rent in Miami-Dade County for a 2 bedroom is $1,684. The median South Miami Heights resident is 40 years old with a yearly income of $21,316. The average family has 3.89 members and a median household income of $43,562. South Miami Heights has a 17% higher education rate. The unemployment rate in South Miami Heights is 5.6%.


Population
37,119 people

County
Miami-Dade County

Renters

42.4% of South Miami Heights households are renters.


Rent Burden

47.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Miami-Dade County 1
Florida 2
National 2
Studio $1,148 $822 $737
1 bedroom $1,336 $891 $813
2 bedroom $1,684 $1,089 $1,015
3 bedroom $2,245 $1,448 $1,325
4 bedroom $2,696 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

South Miami Heights Demographics


Median Individual Income
$21,316 / year

Median Household Income
$43,562 / year

Families w/ Dual Incomes
53%

Unemployment Rate
5.6%
Household Income Distribution
South Miami Heights, FL

Median Age
40 years

Avg Family Size
3.89 people
Age Distribution
South Miami Heights, FL

College Education or Above
17%

STEM College Graduates
42%
Education Distribution
South Miami Heights, FL
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day