White Bear Lake is located in a strong market for 5+ unit multifamily loans. Multifamily loans in White Bear Lake are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in White Bear Lake are some of the lowest nationally. White Bear Lake 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 White Bear Lake.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in White Bear Lake 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 White Bear Lake.
The city of White Bear Lake in Ramsey County has a population of 25,875. The median rent in Ramsey County for a 2 bedroom is $1,410. The median White Bear Lake resident is 42 years old with a yearly income of $37,282. The average family has 3 members and a median household income of $71,709. White Bear Lake has a 34% higher education rate. The unemployment rate in White Bear Lake is 3.2%.
31.9% of White Bear Lake households are renters.
30.1% 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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