Crofton is located in a good market for 5+ unit multifamily loans. Multifamily loans in Crofton are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Crofton are competitive. Crofton 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 Crofton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Crofton are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Crofton.
The city of Crofton in Anne Arundel County has a population of 29,136. The median rent in Anne Arundel County for a 2 bedroom is $1,505. The median Crofton resident is 36 years old with a yearly income of $60,231. The average family has 3.17 members and a median household income of $123,858. Crofton has a 59% higher education rate. The unemployment rate in Crofton is 3.0%.
20.4% of Crofton households are renters.
25.1% median household income spent on rent.
Bedrooms |
Anne Arundel County 1 |
Maryland 2 |
National 2 |
|---|---|---|---|
| Studio | $997 | $1,013 | $737 |
| 1 bedroom | $1,213 | $1,126 | $813 |
| 2 bedroom | $1,505 | $1,365 | $1,015 |
| 3 bedroom | $1,950 | $1,803 | $1,325 |
| 4 bedroom | $2,233 | $2,127 | $1,521 |
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