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Multifamily Loans in
St. Cloud, MN

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in St. Cloud, MN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in St. Cloud 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
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 St. Cloud 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 St. Cloud, MN

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


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


St. Cloud Market

The city of St. Cloud in Stearns County has a population of 68,462. The median rent in Stearns County for a 2 bedroom is $871. The median St. Cloud resident is 31 years old with a yearly income of $25,033. The average family has 3.01 members and a median household income of $49,135. St. Cloud has a 31% higher education rate. The unemployment rate in St. Cloud is 7.2%.


Population
68,462 people

County
Stearns County

Renters

50% of St. Cloud households are renters.


Rent Burden

28.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Stearns County 1
Minnesota 2
National 2
Studio $673 $607 $737
1 bedroom $712 $694 $813
2 bedroom $871 $881 $1,015
3 bedroom $1,231 $1,200 $1,325
4 bedroom $1,440 $1,366 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

St. Cloud Demographics


Median Individual Income
$25,033 / year

Median Household Income
$49,135 / year

Families w/ Dual Incomes
54%

Unemployment Rate
7.2%
Household Income Distribution
St. Cloud, MN

Median Age
31 years

Avg Family Size
3.01 people
Age Distribution
St. Cloud, MN

College Education or Above
31%

STEM College Graduates
36%
Education Distribution
St. Cloud, MN
Source: U.S. Census Bureau

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