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Multifamily Loans in
Wright, FL

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Wright, FL

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

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


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


Wright Market

The city of Wright in Okaloosa County has a population of 23,965. The median rent in Okaloosa County for a 2 bedroom is $1,258. The median Wright resident is 35 years old with a yearly income of $27,578. The average family has 2.98 members and a median household income of $51,349. Wright has a 25% higher education rate. The unemployment rate in Wright is 3.5%.


Population
23,965 people

County
Okaloosa County

Renters

54.8% of Wright households are renters.


Rent Burden

31.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Okaloosa County 1
Florida 2
National 2
Studio $1,052 $822 $737
1 bedroom $1,058 $891 $813
2 bedroom $1,258 $1,089 $1,015
3 bedroom $1,679 $1,448 $1,325
4 bedroom $2,178 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wright Demographics


Median Individual Income
$27,578 / year

Median Household Income
$51,349 / year

Families w/ Dual Incomes
44%

Unemployment Rate
3.5%
Household Income Distribution
Wright, FL

Median Age
35 years

Avg Family Size
2.98 people
Age Distribution
Wright, FL

College Education or Above
25%

STEM College Graduates
46%
Education Distribution
Wright, FL
Source: U.S. Census Bureau

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