Navarre is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Navarre are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Navarre are slightly higher than the national average. Navarre 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 Navarre.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Navarre 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 Navarre.
The city of Navarre in Santa Rosa County has a population of 37,362. The median rent in Santa Rosa County for a 2 bedroom is $1,059. The median Navarre resident is 37 years old with a yearly income of $33,611. The average family has 3.12 members and a median household income of $78,282. Navarre has a 27% higher education rate. The unemployment rate in Navarre is 5.9%.
19.5% of Navarre households are renters.
35.2% median household income spent on rent.
Bedrooms |
Santa Rosa County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $833 | $822 | $737 |
| 1 bedroom | $901 | $891 | $813 |
| 2 bedroom | $1,059 | $1,089 | $1,015 |
| 3 bedroom | $1,486 | $1,448 | $1,325 |
| 4 bedroom | $1,834 | $1,716 | $1,521 |
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