Lake Ridge is located in a good market for 5+ unit multifamily loans. Multifamily loans in Lake Ridge are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Lake Ridge are competitive. Lake Ridge 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 Lake Ridge.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lake Ridge are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Lake Ridge.
The city of Lake Ridge in Prince William County has a population of 44,716. The median rent in Prince William County for a 2 bedroom is $1,917. The median Lake Ridge resident is 36 years old with a yearly income of $49,708. The average family has 3.55 members and a median household income of $102,244. Lake Ridge has a 46% higher education rate. The unemployment rate in Lake Ridge is 3.8%.
25.4% of Lake Ridge households are renters.
27.4% median household income spent on rent.
Bedrooms |
Prince William County 1 |
Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,643 | $833 | $737 |
| 1 bedroom | $1,682 | $897 | $813 |
| 2 bedroom | $1,917 | $1,072 | $1,015 |
| 3 bedroom | $2,457 | $1,423 | $1,325 |
| 4 bedroom | $2,978 | $1,680 | $1,521 |
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