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Multifamily Loans in
Fridley, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Fridley, MN

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

All major multifamily lender types are lending in Fridley.


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


Fridley Market

The city of Fridley in Anoka County has a population of 27,826. The median rent in Anoka County for a 2 bedroom is $1,410. The median Fridley resident is 36 years old with a yearly income of $34,340. The average family has 3.16 members and a median household income of $63,836. Fridley has a 31% higher education rate. The unemployment rate in Fridley is 4.1%.


Population
27,826 people

County
Anoka County

Renters

39.6% of Fridley households are renters.


Rent Burden

25.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Anoka 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

Fridley Demographics


Median Individual Income
$34,340 / year

Median Household Income
$63,836 / year

Families w/ Dual Incomes
53%

Unemployment Rate
4.1%
Household Income Distribution
Fridley, MN

Median Age
36 years

Avg Family Size
3.16 people
Age Distribution
Fridley, MN

College Education or Above
31%

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

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