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Multifamily Loans in
Silver Spring, MD

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Silver Spring, MD

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Silver Spring 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 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.43% - 3.67%
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 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Silver Spring 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 Silver Spring, MD

All major multifamily lender types are lending in Silver Spring.


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


Silver Spring Market

The city of Silver Spring in Montgomery County has a population of 81,773. The median rent in Montgomery County for a 2 bedroom is $1,917. The median Silver Spring resident is 35 years old with a yearly income of $41,779. The average family has 3.34 members and a median household income of $83,782. Silver Spring has a 55% higher education rate. The unemployment rate in Silver Spring is 5.7%.


Population
81,773 people

County
Montgomery County

Renters

64.3% of Silver Spring households are renters.


Rent Burden

32.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Montgomery County 1
Maryland 2
National 2
Studio $1,643 $1,013 $737
1 bedroom $1,682 $1,126 $813
2 bedroom $1,917 $1,365 $1,015
3 bedroom $2,457 $1,803 $1,325
4 bedroom $2,978 $2,127 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Silver Spring Demographics


Median Individual Income
$41,779 / year

Median Household Income
$83,782 / year

Families w/ Dual Incomes
67%

Unemployment Rate
5.7%
Household Income Distribution
Silver Spring, MD

Median Age
35 years

Avg Family Size
3.34 people
Age Distribution
Silver Spring, MD

College Education or Above
55%

STEM College Graduates
55%
Education Distribution
Silver Spring, MD
Source: U.S. Census Bureau

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