Fruit Cove is located in a good market for 5+ unit multifamily loans. Multifamily loans in Fruit Cove are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Fruit Cove are competitive. Fruit Cove 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 Fruit Cove.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fruit Cove 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.44% - 5.68% |
| 7 Year Fixed | 5.28% - 5.52% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Fruit Cove.
The city of Fruit Cove in St. Johns County has a population of 31,314. The median rent in St. Johns County for a 2 bedroom is $1,195. The median Fruit Cove resident is 42 years old with a yearly income of $45,681. The average family has 3.26 members and a median household income of $107,557. Fruit Cove has a 52% higher education rate. The unemployment rate in Fruit Cove is 4.9%.
17.2% of Fruit Cove households are renters.
29.3% median household income spent on rent.
Bedrooms |
St. Johns County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $801 | $822 | $737 |
| 1 bedroom | $989 | $891 | $813 |
| 2 bedroom | $1,195 | $1,089 | $1,015 |
| 3 bedroom | $1,562 | $1,448 | $1,325 |
| 4 bedroom | $1,989 | $1,716 | $1,521 |
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