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Multifamily Loans in
Virginia Beach, VA

Overview

Virginia Beach is located in a good market for 5+ unit multifamily loans. Multifamily loans in Virginia Beach are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Virginia Beach are competitive. Virginia Beach 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 Virginia Beach.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Virginia Beach, VA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Virginia Beach 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 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Virginia Beach 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 05, 2021


Multifamily Lenders in Virginia Beach, VA

All major multifamily lender types are lending in Virginia Beach.


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 05, 2021


Virginia Beach Market

The city of Virginia Beach in Virginia Beach city has a population of 449,974. The median rent in Virginia Beach city for a 2 bedroom is $1,233. The median Virginia Beach resident is 36 years old with a yearly income of $37,350. The average family has 3.08 members and a median household income of $76,610. Virginia Beach has a 36% higher education rate. The unemployment rate in Virginia Beach is 4.6%.


Population
449,974 people

County
Virginia Beach city

Renters

36.3% of Virginia Beach households are renters.


Rent Burden

29.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Virginia Beach city 1
Virginia 2
National 2
Studio $1,032 $833 $737
1 bedroom $1,045 $897 $813
2 bedroom $1,233 $1,072 $1,015
3 bedroom $1,740 $1,423 $1,325
4 bedroom $2,135 $1,680 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Virginia Beach Demographics


Median Individual Income
$37,350 / year

Median Household Income
$76,610 / year

Families w/ Dual Incomes
58%

Unemployment Rate
4.6%
Household Income Distribution
Virginia Beach, VA

Median Age
36 years

Avg Family Size
3.08 people
Age Distribution
Virginia Beach, VA

College Education or Above
36%

STEM College Graduates
45%
Education Distribution
Virginia Beach, VA
Source: U.S. Census Bureau

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