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Multifamily Loans in
Columbia Heights, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Columbia Heights, MN

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

All major multifamily lender types are lending in Columbia Heights.


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


Columbia Heights Market

The city of Columbia Heights in Anoka County has a population of 20,427. The median rent in Anoka County for a 2 bedroom is $1,410. The median Columbia Heights resident is 37 years old with a yearly income of $33,926. The average family has 3.23 members and a median household income of $57,882. Columbia Heights has a 27% higher education rate. The unemployment rate in Columbia Heights is 5.7%.


Population
20,427 people

County
Anoka County

Renters

33.2% of Columbia Heights households are renters.


Rent Burden

33.9% 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

Columbia Heights Demographics


Median Individual Income
$33,926 / year

Median Household Income
$57,882 / year

Families w/ Dual Incomes
58%

Unemployment Rate
5.7%
Household Income Distribution
Columbia Heights, MN

Median Age
37 years

Avg Family Size
3.23 people
Age Distribution
Columbia Heights, MN

College Education or Above
27%

STEM College Graduates
45%
Education Distribution
Columbia Heights, MN
Source: U.S. Census Bureau

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