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Multifamily Loans in
Suitland, MD

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Suitland, MD

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Suitland 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 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Suitland 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 Suitland, MD

All major multifamily lender types are lending in Suitland.


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


Suitland Market

The city of Suitland in Prince George's County has a population of 24,522. The median rent in Prince George's County for a 2 bedroom is $1,917. The median Suitland resident is 34 years old with a yearly income of $36,849. The average family has 3.24 members and a median household income of $62,073. Suitland has a 16% higher education rate. The unemployment rate in Suitland is 7.2%.


Population
24,522 people

County
Prince George's County

Renters

63% of Suitland households are renters.


Rent Burden

30.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Prince George's 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

Suitland Demographics


Median Individual Income
$36,849 / year

Median Household Income
$62,073 / year

Families w/ Dual Incomes
48%

Unemployment Rate
7.2%
Household Income Distribution
Suitland, MD

Median Age
34 years

Avg Family Size
3.24 people
Age Distribution
Suitland, MD

College Education or Above
16%

STEM College Graduates
34%
Education Distribution
Suitland, MD
Source: U.S. Census Bureau

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