Punta Gorda is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Punta Gorda are considered greater risk due to market dynamics. Interest rates for multifamily loans in Punta Gorda are higher than the national average. Punta Gorda 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 Punta Gorda.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Punta Gorda 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 Punta Gorda.
The city of Punta Gorda in Charlotte County has a population of 20,369. The median rent in Charlotte County for a 2 bedroom is $1,131. The median Punta Gorda resident is 67 years old with a yearly income of $32,693. The average family has 2.33 members and a median household income of $61,395. Punta Gorda has a 39% higher education rate. The unemployment rate in Punta Gorda is 6.7%.
18.5% of Punta Gorda households are renters.
36.6% median household income spent on rent.
Bedrooms |
Charlotte County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $847 | $822 | $737 |
| 1 bedroom | $918 | $891 | $813 |
| 2 bedroom | $1,131 | $1,089 | $1,015 |
| 3 bedroom | $1,597 | $1,448 | $1,325 |
| 4 bedroom | $1,958 | $1,716 | $1,521 |
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