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Multifamily Loans in
Burnsville, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Burnsville, MN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Burnsville 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 Burnsville 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 Burnsville, MN

All major multifamily lender types are lending in Burnsville.


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


Burnsville Market

The city of Burnsville in Dakota County has a population of 61,339. The median rent in Dakota County for a 2 bedroom is $1,410. The median Burnsville resident is 37 years old with a yearly income of $37,695. The average family has 3.01 members and a median household income of $73,529. Burnsville has a 39% higher education rate. The unemployment rate in Burnsville is 4.7%.


Population
61,339 people

County
Dakota County

Renters

35.8% of Burnsville households are renters.


Rent Burden

32.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Dakota 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

Burnsville Demographics


Median Individual Income
$37,695 / year

Median Household Income
$73,529 / year

Families w/ Dual Incomes
61%

Unemployment Rate
4.7%
Household Income Distribution
Burnsville, MN

Median Age
37 years

Avg Family Size
3.01 people
Age Distribution
Burnsville, MN

College Education or Above
39%

STEM College Graduates
42%
Education Distribution
Burnsville, MN
Source: U.S. Census Bureau

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