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Multifamily Loans in
Venice, FL

Overview

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

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Venice, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Venice 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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Venice 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 03, 2021


Multifamily Lenders in Venice, FL

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


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 03, 2021


Venice Market

The city of Venice in Sarasota County has a population of 23,985. The median rent in Sarasota County for a 2 bedroom is $1,383. The median Venice resident is 69 years old with a yearly income of $33,033. The average family has 2.38 members and a median household income of $60,086. Venice has a 41% higher education rate. The unemployment rate in Venice is 3.9%.


Population
23,985 people

County
Sarasota County

Renters

24.2% of Venice households are renters.


Rent Burden

37.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Sarasota County 1
Florida 2
National 2
Studio $912 $822 $737
1 bedroom $1,076 $891 $813
2 bedroom $1,383 $1,089 $1,015
3 bedroom $1,829 $1,448 $1,325
4 bedroom $2,202 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Venice Demographics


Median Individual Income
$33,033 / year

Median Household Income
$60,086 / year

Families w/ Dual Incomes
19%

Unemployment Rate
3.9%
Household Income Distribution
Venice, FL

Median Age
69 years

Avg Family Size
2.38 people
Age Distribution
Venice, FL

College Education or Above
41%

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

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