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Multifamily Loans in
New Brighton, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in New Brighton, MN

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

All major multifamily lender types are lending in New Brighton.


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


New Brighton Market

The city of New Brighton in Ramsey County has a population of 22,753. The median rent in Ramsey County for a 2 bedroom is $1,410. The median New Brighton resident is 38 years old with a yearly income of $37,669. The average family has 3.03 members and a median household income of $74,644. New Brighton has a 48% higher education rate. The unemployment rate in New Brighton is 4.4%.


Population
22,753 people

County
Ramsey County

Renters

36.5% of New Brighton households are renters.


Rent Burden

27.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Ramsey 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

New Brighton Demographics


Median Individual Income
$37,669 / year

Median Household Income
$74,644 / year

Families w/ Dual Incomes
58%

Unemployment Rate
4.4%
Household Income Distribution
New Brighton, MN

Median Age
38 years

Avg Family Size
3.03 people
Age Distribution
New Brighton, MN

College Education or Above
48%

STEM College Graduates
49%
Education Distribution
New Brighton, MN
Source: U.S. Census Bureau

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