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Multifamily Loans in
Lake Ridge, VA

Overview

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.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Lake Ridge, VA

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 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 Lake Ridge 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 Lake Ridge, VA

All major multifamily lender types are lending in Lake Ridge.


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


Lake Ridge Market

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%.


Population
44,716 people

County
Prince William County

Renters

25.4% of Lake Ridge households are renters.


Rent Burden

27.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lake Ridge Demographics


Median Individual Income
$49,708 / year

Median Household Income
$102,244 / year

Families w/ Dual Incomes
63%

Unemployment Rate
3.8%
Household Income Distribution
Lake Ridge, VA

Median Age
36 years

Avg Family Size
3.55 people
Age Distribution
Lake Ridge, VA

College Education or Above
46%

STEM College Graduates
42%
Education Distribution
Lake Ridge, VA
Source: U.S. Census Bureau

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