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Multifamily Loans in
Eagan, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Eagan, MN

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

All major multifamily lender types are lending in Eagan.


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


Eagan Market

The city of Eagan in Dakota County has a population of 66,372. The median rent in Dakota County for a 2 bedroom is $1,410. The median Eagan resident is 38 years old with a yearly income of $45,192. The average family has 3.06 members and a median household income of $90,515. Eagan has a 52% higher education rate. The unemployment rate in Eagan is 4.2%.


Population
66,372 people

County
Dakota County

Renters

30.3% of Eagan households are renters.


Rent Burden

26.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Dakota 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

Eagan Demographics


Median Individual Income
$45,192 / year

Median Household Income
$90,515 / year

Families w/ Dual Incomes
64%

Unemployment Rate
4.2%
Household Income Distribution
Eagan, MN

Median Age
38 years

Avg Family Size
3.06 people
Age Distribution
Eagan, MN

College Education or Above
52%

STEM College Graduates
48%
Education Distribution
Eagan, MN
Source: U.S. Census Bureau

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