Lynn Haven is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Lynn Haven are considered greater risk due to market dynamics. Interest rates for multifamily loans in Lynn Haven are higher than the national average. Lynn Haven apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Lynn Haven.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lynn Haven 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 | 5.58% - 5.82% |
| 7 Year Fixed | 5.37% - 5.61% |
| 10 Year Fixed | 5.23% - 5.47% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Lynn Haven.
The city of Lynn Haven in Bay County has a population of 20,525. The median rent in Bay County for a 2 bedroom is $1,171. The median Lynn Haven resident is 35 years old with a yearly income of $31,167. The average family has 3.24 members and a median household income of $65,650. Lynn Haven has a 32% higher education rate. The unemployment rate in Lynn Haven is 4.0%.
32.3% of Lynn Haven households are renters.
29.7% median household income spent on rent.
Bedrooms |
Bay County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $920 | $822 | $737 |
| 1 bedroom | $1,004 | $891 | $813 |
| 2 bedroom | $1,171 | $1,089 | $1,015 |
| 3 bedroom | $1,630 | $1,448 | $1,325 |
| 4 bedroom | $1,920 | $1,716 | $1,521 |
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