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Multifamily Loans in
Glen Burnie, MD

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Glen Burnie, MD

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Glen Burnie 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 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Glen Burnie 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 05, 2021


Multifamily Lenders in Glen Burnie, MD

All major multifamily lender types are lending in Glen Burnie.


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 05, 2021


Glen Burnie Market

The city of Glen Burnie in Anne Arundel County has a population of 69,872. The median rent in Anne Arundel County for a 2 bedroom is $1,505. The median Glen Burnie resident is 37 years old with a yearly income of $36,356. The average family has 3.23 members and a median household income of $70,769. Glen Burnie has a 25% higher education rate. The unemployment rate in Glen Burnie is 4.7%.


Population
69,872 people

County
Anne Arundel County

Renters

38.8% of Glen Burnie households are renters.


Rent Burden

32.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Anne Arundel 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

Glen Burnie Demographics


Median Individual Income
$36,356 / year

Median Household Income
$70,769 / year

Families w/ Dual Incomes
60%

Unemployment Rate
4.7%
Household Income Distribution
Glen Burnie, MD

Median Age
37 years

Avg Family Size
3.23 people
Age Distribution
Glen Burnie, MD

College Education or Above
25%

STEM College Graduates
45%
Education Distribution
Glen Burnie, MD
Source: U.S. Census Bureau

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