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Multifamily Loans in
Inver Grove Heights, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Inver Grove Heights, MN

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

All major multifamily lender types are lending in Inver Grove Heights.


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


Inver Grove Heights Market

The city of Inver Grove Heights in Dakota County has a population of 35,672. The median rent in Dakota County for a 2 bedroom is $1,410. The median Inver Grove Heights resident is 40 years old with a yearly income of $40,127. The average family has 3.09 members and a median household income of $78,347. Inver Grove Heights has a 36% higher education rate. The unemployment rate in Inver Grove Heights is 4.3%.


Population
35,672 people

County
Dakota County

Renters

32.2% of Inver Grove Heights households are renters.


Rent Burden

26.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Dakota 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

Inver Grove Heights Demographics


Median Individual Income
$40,127 / year

Median Household Income
$78,347 / year

Families w/ Dual Incomes
59%

Unemployment Rate
4.3%
Household Income Distribution
Inver Grove Heights, MN

Median Age
40 years

Avg Family Size
3.09 people
Age Distribution
Inver Grove Heights, MN

College Education or Above
36%

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

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