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Multifamily Loans in
Eden Prairie, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Eden Prairie, MN

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

All major multifamily lender types are lending in Eden Prairie.


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


Eden Prairie Market

The city of Eden Prairie in Hennepin County has a population of 64,893. The median rent in Hennepin County for a 2 bedroom is $1,410. The median Eden Prairie resident is 39 years old with a yearly income of $52,246. The average family has 3.07 members and a median household income of $111,981. Eden Prairie has a 64% higher education rate. The unemployment rate in Eden Prairie is 3.1%.


Population
64,893 people

County
Hennepin County

Renters

27% of Eden Prairie households are renters.


Rent Burden

26.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hennepin 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

Eden Prairie Demographics


Median Individual Income
$52,246 / year

Median Household Income
$111,981 / year

Families w/ Dual Incomes
64%

Unemployment Rate
3.1%
Household Income Distribution
Eden Prairie, MN

Median Age
39 years

Avg Family Size
3.07 people
Age Distribution
Eden Prairie, MN

College Education or Above
64%

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

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