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Multifamily Loans in
The Hammocks, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in The Hammocks, FL

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

All major multifamily lender types are lending in The Hammocks.


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


The Hammocks Market

The city of The Hammocks in Miami-Dade County has a population of 61,516. The median rent in Miami-Dade County for a 2 bedroom is $1,684. The median The Hammocks resident is 39 years old with a yearly income of $30,424. The average family has 3.91 members and a median household income of $70,014. The Hammocks has a 36% higher education rate. The unemployment rate in The Hammocks is 4.2%.


Population
61,516 people

County
Miami-Dade County

Renters

41.3% of The Hammocks households are renters.


Rent Burden

39.4% 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

The Hammocks Demographics


Median Individual Income
$30,424 / year

Median Household Income
$70,014 / year

Families w/ Dual Incomes
59%

Unemployment Rate
4.2%
Household Income Distribution
The Hammocks, FL

Median Age
39 years

Avg Family Size
3.91 people
Age Distribution
The Hammocks, FL

College Education or Above
36%

STEM College Graduates
41%
Education Distribution
The Hammocks, FL
Source: U.S. Census Bureau

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