Temple Terrace is located in a good market for 5+ unit multifamily loans. Multifamily loans in Temple Terrace are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Temple Terrace are competitive. Temple Terrace 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 Temple Terrace.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Temple Terrace 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 Temple Terrace.
The city of Temple Terrace in Hillsborough County has a population of 26,639. The median rent in Hillsborough County for a 2 bedroom is $1,375. The median Temple Terrace resident is 33 years old with a yearly income of $32,595. The average family has 3.35 members and a median household income of $63,018. Temple Terrace has a 41% higher education rate. The unemployment rate in Temple Terrace is 1.7%.
48.3% of Temple Terrace households are renters.
30.1% median household income spent on rent.
Bedrooms |
Hillsborough County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,070 | $822 | $737 |
| 1 bedroom | $1,125 | $891 | $813 |
| 2 bedroom | $1,375 | $1,089 | $1,015 |
| 3 bedroom | $1,786 | $1,448 | $1,325 |
| 4 bedroom | $2,194 | $1,716 | $1,521 |
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