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Multifamily Loans in
Fargo, ND

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Fargo, ND

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fargo 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.51% - 3.75%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Fargo 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 Fargo, ND

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


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


Fargo Market

The city of Fargo in Cass County has a population of 124,662. The median rent in Cass County for a 2 bedroom is $924. The median Fargo resident is 31 years old with a yearly income of $31,607. The average family has 2.89 members and a median household income of $55,551. Fargo has a 40% higher education rate. The unemployment rate in Fargo is 3.2%.


Population
124,662 people

County
Cass County

Renters

56.4% of Fargo households are renters.


Rent Burden

25.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cass County 1
North Dakota 2
National 2
Studio $627 $625 $737
1 bedroom $754 $642 $813
2 bedroom $924 $806 $1,015
3 bedroom $1,322 $1,109 $1,325
4 bedroom $1,600 $1,252 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fargo Demographics


Median Individual Income
$31,607 / year

Median Household Income
$55,551 / year

Families w/ Dual Incomes
64%

Unemployment Rate
3.2%
Household Income Distribution
Fargo, ND

Median Age
31 years

Avg Family Size
2.89 people
Age Distribution
Fargo, ND

College Education or Above
40%

STEM College Graduates
44%
Education Distribution
Fargo, ND
Source: U.S. Census Bureau

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