North Laurel is located in a good market for 5+ unit multifamily loans. Multifamily loans in North Laurel are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in North Laurel are competitive. North Laurel 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 North Laurel.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Laurel are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.93% - 6.08% |
| 7 Year Fixed | 5.99% - 6.14% |
| 10 Year Fixed | 5.99% - 6.14% |
All major multifamily lender types are lending in North Laurel.
The city of North Laurel in Howard County has a population of 24,873. The median rent in Howard County for a 2 bedroom is $1,505. The median North Laurel resident is 33 years old with a yearly income of $50,110. The average family has 3.52 members and a median household income of $104,352. North Laurel has a 54% higher education rate. The unemployment rate in North Laurel is 4.2%.
41.6% of North Laurel households are renters.
26.9% median household income spent on rent.
Bedrooms |
Howard County 1 |
Maryland 2 |
National 2 |
|---|---|---|---|
| Studio | $997 | $1,013 | $737 |
| 1 bedroom | $1,213 | $1,126 | $813 |
| 2 bedroom | $1,505 | $1,365 | $1,015 |
| 3 bedroom | $1,950 | $1,803 | $1,325 |
| 4 bedroom | $2,233 | $2,127 | $1,521 |
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