Glen Burnie is located in a good market for 5+ unit multifamily loans. Multifamily loans in Glen Burnie are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Glen Burnie are competitive. Glen Burnie 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 Glen Burnie.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Glen Burnie 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 Glen Burnie.
The city of Glen Burnie in Anne Arundel County has a population of 69,872. The median rent in Anne Arundel County for a 2 bedroom is $1,505. The median Glen Burnie resident is 37 years old with a yearly income of $36,356. The average family has 3.23 members and a median household income of $70,769. Glen Burnie has a 25% higher education rate. The unemployment rate in Glen Burnie is 4.7%.
38.8% of Glen Burnie households are renters.
32.1% median household income spent on rent.
Bedrooms |
Anne Arundel 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 |
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