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Multifamily Loans in
Dickinson, ND

Overview

Dickinson is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Dickinson are considered greater risk due to market dynamics. Interest rates for multifamily loans in Dickinson are higher than the national average. Dickinson apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Dickinson.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Dickinson, ND

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Dickinson 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 $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
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®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
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 Dickinson 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 Dickinson, ND

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Dickinson.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Dickinson Market

The city of Dickinson in Stark County has a population of 23,133. The median rent in Stark County for a 2 bedroom is $1,072. The median Dickinson resident is 33 years old with a yearly income of $39,880. The average family has 3.12 members and a median household income of $68,718. Dickinson has a 23% higher education rate. The unemployment rate in Dickinson is 2.7%.


Population
23,133 people

County
Stark County

Renters

47.6% of Dickinson households are renters.


Rent Burden

22.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Stark County 1
North Dakota 2
National 2
Studio $880 $625 $737
1 bedroom $885 $642 $813
2 bedroom $1,072 $806 $1,015
3 bedroom $1,533 $1,109 $1,325
4 bedroom $1,574 $1,252 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Dickinson Demographics


Median Individual Income
$39,880 / year

Median Household Income
$68,718 / year

Families w/ Dual Incomes
62%

Unemployment Rate
2.7%
Household Income Distribution
Dickinson, ND

Median Age
33 years

Avg Family Size
3.12 people
Age Distribution
Dickinson, ND

College Education or Above
23%

STEM College Graduates
41%
Education Distribution
Dickinson, ND
Source: U.S. Census Bureau

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