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Multifamily Loans in
Mandan, ND

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Overview

Mandan is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Mandan are considered greater risk due to market dynamics. Interest rates for multifamily loans in Mandan are higher than the national average. Mandan apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Mandan.

For 2-4 unit multifamily loans in Mandan, 2021 conforming loan limits are $702,000 for a duplex, $848,500 for a triplex and $1,054,500 for a fourplex.

Get multifamily loan quotes for Oct 15, 2021


Multifamily Loan Rates in Mandan, ND

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mandan 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 $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
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®
$6M to $100M
5 Year Fixed 2.92% - 3.17%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 10/14/2021. This is not an offer or commitment to lend. Multifamily loan rates in Mandan 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 Oct 15, 2021


Multifamily Lenders in Mandan, ND

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Mandan.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Oct 15, 2021


Mandan Market

The city of Mandan in Morton County has a population of 22,752. The median rent in Morton County for a 2 bedroom is $945. The median Mandan resident is 37 years old with a yearly income of $38,636. The average family has 2.75 members and a median household income of $69,014. Mandan has a 29% higher education rate. The unemployment rate in Mandan is 2.3%.


Population
22,752 people

County
Morton County

Renters

35.1% of Mandan households are renters.


Rent Burden

22.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Morton County 1
North Dakota 2
National 2
Studio $764 $625 $737
1 bedroom $769 $642 $813
2 bedroom $945 $806 $1,015
3 bedroom $1,352 $1,109 $1,325
4 bedroom $1,544 $1,252 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Mandan Demographics


Median Individual Income
$38,636 / year

Median Household Income
$69,014 / year

Families w/ Dual Incomes
69%

Unemployment Rate
2.3%
Household Income Distribution
Mandan, ND

Median Age
37 years

Avg Family Size
2.75 people
Age Distribution
Mandan, ND

College Education or Above
29%

STEM College Graduates
41%
Education Distribution
Mandan, ND
Source: U.S. Census Bureau

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