Cottage Grove is located in a good market for 5+ unit multifamily loans. Multifamily loans in Cottage Grove are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Cottage Grove are competitive. Cottage Grove 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 Cottage Grove.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cottage Grove are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.39% - 6.63% |
| 7 Year Fixed | 6.20% - 6.44% |
| 10 Year Fixed | 6.24% - 6.48% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Cottage Grove.
The city of Cottage Grove in Washington County has a population of 37,604. The median rent in Washington County for a 2 bedroom is $1,410. The median Cottage Grove resident is 37 years old with a yearly income of $45,493. The average family has 3.37 members and a median household income of $102,039. Cottage Grove has a 36% higher education rate. The unemployment rate in Cottage Grove is 1.8%.
13.2% of Cottage Grove households are renters.
27.6% median household income spent on rent.
Bedrooms |
Washington 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 |
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