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Multifamily Loans in
Coon Rapids, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Coon Rapids, MN

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

All major multifamily lender types are lending in Coon Rapids.


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


Coon Rapids Market

The city of Coon Rapids in Anoka County has a population of 62,998. The median rent in Anoka County for a 2 bedroom is $1,410. The median Coon Rapids resident is 39 years old with a yearly income of $36,354. The average family has 3.11 members and a median household income of $71,267. Coon Rapids has a 26% higher education rate. The unemployment rate in Coon Rapids is 4.0%.


Population
62,998 people

County
Anoka County

Renters

25.5% of Coon Rapids households are renters.


Rent Burden

32.3% 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

Coon Rapids Demographics


Median Individual Income
$36,354 / year

Median Household Income
$71,267 / year

Families w/ Dual Incomes
60%

Unemployment Rate
4.0%
Household Income Distribution
Coon Rapids, MN

Median Age
39 years

Avg Family Size
3.11 people
Age Distribution
Coon Rapids, MN

College Education or Above
26%

STEM College Graduates
41%
Education Distribution
Coon Rapids, MN
Source: U.S. Census Bureau

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