New Brighton is located in a strong market for 5+ unit multifamily loans. Multifamily loans in New Brighton are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in New Brighton are some of the lowest nationally. New Brighton 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 New Brighton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in New Brighton 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 | 5.17% - 5.41% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
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 | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in New Brighton.
The city of New Brighton in Ramsey County has a population of 22,753. The median rent in Ramsey County for a 2 bedroom is $1,410. The median New Brighton resident is 38 years old with a yearly income of $37,669. The average family has 3.03 members and a median household income of $74,644. New Brighton has a 48% higher education rate. The unemployment rate in New Brighton is 4.4%.
36.5% of New Brighton households are renters.
27.4% median household income spent on rent.
Bedrooms |
Ramsey County 1 |
Minnesota 2 |
National 2 |
|---|---|---|---|
| Studio | $968 | $607 | $737 |
| 1 bedroom | $1,136 | $694 | $813 |
| 2 bedroom | $1,410 | $881 | $1,015 |
| 3 bedroom | $1,982 | $1,200 | $1,325 |
| 4 bedroom | $2,324 | $1,366 | $1,521 |
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