Ballenger Creek is located in a good market for 5+ unit multifamily loans. Multifamily loans in Ballenger Creek are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Ballenger Creek are competitive. Ballenger Creek 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 Ballenger Creek.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ballenger Creek 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 | 5.44% - 5.68% |
| 7 Year Fixed | 5.28% - 5.52% |
| 10 Year Fixed | 5.19% - 5.43% |
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 | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Ballenger Creek.
The city of Ballenger Creek in Frederick County has a population of 21,080. The median rent in Frederick County for a 2 bedroom is $1,917. The median Ballenger Creek resident is 36 years old with a yearly income of $43,817. The average family has 3.13 members and a median household income of $91,143. Ballenger Creek has a 40% higher education rate. The unemployment rate in Ballenger Creek is 3.7%.
35.4% of Ballenger Creek households are renters.
30.2% median household income spent on rent.
Bedrooms |
Frederick 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 |
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