Deland is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Deland are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Deland are slightly higher than the national average. Deland 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 Deland.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Deland are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.53% - 5.77% |
| 7 Year Fixed | 5.27% - 5.51% |
| 10 Year Fixed | 5.13% - 5.37% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Deland.
The city of Deland in Volusia County has a population of 34,851. The median rent in Volusia County for a 2 bedroom is $1,110. The median Deland resident is 42 years old with a yearly income of $26,736. The average family has 3.11 members and a median household income of $47,925. Deland has a 29% higher education rate. The unemployment rate in Deland is 6.0%.
43.2% of Deland households are renters.
42.4% median household income spent on rent.
Bedrooms |
Volusia County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $732 | $822 | $737 |
| 1 bedroom | $905 | $891 | $813 |
| 2 bedroom | $1,110 | $1,089 | $1,015 |
| 3 bedroom | $1,486 | $1,448 | $1,325 |
| 4 bedroom | $1,624 | $1,716 | $1,521 |
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