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Multifamily Loans in
Edina, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Edina, MN

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

All major multifamily lender types are lending in Edina.


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


Edina Market

The city of Edina in Hennepin County has a population of 52,857. The median rent in Hennepin County for a 2 bedroom is $1,410. The median Edina resident is 44 years old with a yearly income of $52,157. The average family has 3 members and a median household income of $104,244. Edina has a 70% higher education rate. The unemployment rate in Edina is 3.1%.


Population
52,857 people

County
Hennepin County

Renters

29.2% of Edina households are renters.


Rent Burden

28.2% 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

Edina Demographics


Median Individual Income
$52,157 / year

Median Household Income
$104,244 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.1%
Household Income Distribution
Edina, MN

Median Age
44 years

Avg Family Size
3 people
Age Distribution
Edina, MN

College Education or Above
70%

STEM College Graduates
44%
Education Distribution
Edina, MN
Source: U.S. Census Bureau

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