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Multifamily Loans in
Champlin, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Champlin, MN

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

All major multifamily lender types are lending in Champlin.


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


Champlin Market

The city of Champlin in Hennepin County has a population of 25,268. The median rent in Hennepin County for a 2 bedroom is $1,410. The median Champlin resident is 40 years old with a yearly income of $45,392. The average family has 3.14 members and a median household income of $92,858. Champlin has a 39% higher education rate. The unemployment rate in Champlin is 2.5%.


Population
25,268 people

County
Hennepin County

Renters

13.2% of Champlin households are renters.


Rent Burden

34.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hennepin 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

Champlin Demographics


Median Individual Income
$45,392 / year

Median Household Income
$92,858 / year

Families w/ Dual Incomes
70%

Unemployment Rate
2.5%
Household Income Distribution
Champlin, MN

Median Age
40 years

Avg Family Size
3.14 people
Age Distribution
Champlin, MN

College Education or Above
39%

STEM College Graduates
38%
Education Distribution
Champlin, MN
Source: U.S. Census Bureau

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