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Multifamily Loans in
Minnetonka, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Minnetonka, MN

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

All major multifamily lender types are lending in Minnetonka.


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


Minnetonka Market

The city of Minnetonka in Hennepin County has a population of 54,064. The median rent in Hennepin County for a 2 bedroom is $1,410. The median Minnetonka resident is 44 years old with a yearly income of $51,162. The average family has 2.92 members and a median household income of $95,630. Minnetonka has a 60% higher education rate. The unemployment rate in Minnetonka is 3.0%.


Population
54,064 people

County
Hennepin County

Renters

31% of Minnetonka households are renters.


Rent Burden

26.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hennepin 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

Minnetonka Demographics


Median Individual Income
$51,162 / year

Median Household Income
$95,630 / year

Families w/ Dual Incomes
60%

Unemployment Rate
3.0%
Household Income Distribution
Minnetonka, MN

Median Age
44 years

Avg Family Size
2.92 people
Age Distribution
Minnetonka, MN

College Education or Above
60%

STEM College Graduates
47%
Education Distribution
Minnetonka, MN
Source: U.S. Census Bureau

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