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Multifamily Loans in
North Laurel, MD

Overview

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.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in North Laurel, MD

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 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 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in North Laurel 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 05, 2021


Multifamily Lenders in North Laurel, MD

All major multifamily lender types are lending in North Laurel.


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 05, 2021


North Laurel Market

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%.


Population
24,873 people

County
Howard County

Renters

41.6% of North Laurel households are renters.


Rent Burden

26.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

North Laurel Demographics


Median Individual Income
$50,110 / year

Median Household Income
$104,352 / year

Families w/ Dual Incomes
73%

Unemployment Rate
4.2%
Household Income Distribution
North Laurel, MD

Median Age
33 years

Avg Family Size
3.52 people
Age Distribution
North Laurel, MD

College Education or Above
54%

STEM College Graduates
53%
Education Distribution
North Laurel, MD
Source: U.S. Census Bureau

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