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Multifamily Loans in
Blaine, MN

Overview

Blaine is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Blaine are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Blaine are some of the lowest nationally. Blaine 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 Blaine.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Blaine, MN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Blaine are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 2.98% - 3.23%
7 Year Fixed 3.14% - 3.59%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Blaine may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Lenders in Blaine, MN

All major multifamily lender types are lending in Blaine.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 04, 2021


Blaine Market

The city of Blaine in Anoka County has a population of 65,607. The median rent in Anoka County for a 2 bedroom is $1,410. The median Blaine resident is 38 years old with a yearly income of $41,296. The average family has 3.23 members and a median household income of $84,933. Blaine has a 35% higher education rate. The unemployment rate in Blaine is 3.6%.


Population
65,607 people

County
Anoka County

Renters

13.6% of Blaine households are renters.


Rent Burden

28.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Anoka County 1
Minnesota 2
National 2
Studio $968 $607 $737
1 bedroom $1,136 $694 $813
2 bedroom $1,410 $881 $1,015
3 bedroom $1,982 $1,200 $1,325
4 bedroom $2,324 $1,366 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Blaine Demographics


Median Individual Income
$41,296 / year

Median Household Income
$84,933 / year

Families w/ Dual Incomes
65%

Unemployment Rate
3.6%
Household Income Distribution
Blaine, MN

Median Age
38 years

Avg Family Size
3.23 people
Age Distribution
Blaine, MN

College Education or Above
35%

STEM College Graduates
43%
Education Distribution
Blaine, MN
Source: U.S. Census Bureau

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