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Multifamily Loans in
Ellicott City, MD

Overview

Ellicott City is located in a good market for 5+ unit multifamily loans. Multifamily loans in Ellicott City are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Ellicott City are competitive. Ellicott City 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 Ellicott City.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Ellicott City, MD

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ellicott City 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 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
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 Ellicott City 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 Ellicott City, MD

All major multifamily lender types are lending in Ellicott City.


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


Ellicott City Market

The city of Ellicott City in Howard County has a population of 72,665. The median rent in Howard County for a 2 bedroom is $1,505. The median Ellicott City resident is 41 years old with a yearly income of $60,865. The average family has 3.22 members and a median household income of $131,534. Ellicott City has a 67% higher education rate. The unemployment rate in Ellicott City is 3.2%.


Population
72,665 people

County
Howard County

Renters

25.9% of Ellicott City households are renters.


Rent Burden

29.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Howard 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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ellicott City Demographics


Median Individual Income
$60,865 / year

Median Household Income
$131,534 / year

Families w/ Dual Incomes
65%

Unemployment Rate
3.2%
Household Income Distribution
Ellicott City, MD

Median Age
41 years

Avg Family Size
3.22 people
Age Distribution
Ellicott City, MD

College Education or Above
67%

STEM College Graduates
58%
Education Distribution
Ellicott City, MD
Source: U.S. Census Bureau

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