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Multifamily Loans in
Moorhead, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Moorhead, MN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Moorhead 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.51% - 3.75%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Moorhead 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 Moorhead, MN

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


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 Dec 04, 2021


Moorhead Market

The city of Moorhead in Clay County has a population of 43,652. The median rent in Clay County for a 2 bedroom is $924. The median Moorhead resident is 30 years old with a yearly income of $29,759. The average family has 3.04 members and a median household income of $60,315. Moorhead has a 38% higher education rate. The unemployment rate in Moorhead is 3.3%.


Population
43,652 people

County
Clay County

Renters

39.8% of Moorhead households are renters.


Rent Burden

34.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Clay County 1
Minnesota 2
National 2
Studio $627 $607 $737
1 bedroom $754 $694 $813
2 bedroom $924 $881 $1,015
3 bedroom $1,322 $1,200 $1,325
4 bedroom $1,600 $1,366 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Moorhead Demographics


Median Individual Income
$29,759 / year

Median Household Income
$60,315 / year

Families w/ Dual Incomes
63%

Unemployment Rate
3.3%
Household Income Distribution
Moorhead, MN

Median Age
30 years

Avg Family Size
3.04 people
Age Distribution
Moorhead, MN

College Education or Above
38%

STEM College Graduates
31%
Education Distribution
Moorhead, MN
Source: U.S. Census Bureau

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