Amherst Center is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Amherst Center are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Amherst Center are slightly higher than the national average. Amherst Center apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Amherst Center.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Amherst Center are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.63% - 6.87% |
| 7 Year Fixed | 6.39% - 6.63% |
| 10 Year Fixed | 6.43% - 6.67% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.74% - 5.84% |
| 7 Year Fixed | 5.79% - 5.89% |
| 10 Year Fixed | 5.77% - 5.87% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Amherst Center.
The city of Amherst Center in Hampshire County has a population of 20,409. The median rent in Hampshire County for a 2 bedroom is $1,209. The median Amherst Center resident is 20 years old with a yearly income of $5,711. The average family has 2.81 members and a median household income of $45,098. Amherst Center has a 63% higher education rate. The unemployment rate in Amherst Center is 12.2%.
63.3% of Amherst Center households are renters.
52.5% median household income spent on rent.
Bedrooms |
Hampshire County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $798 | $1,259 | $737 |
| 1 bedroom | $954 | $1,399 | $813 |
| 2 bedroom | $1,209 | $1,747 | $1,015 |
| 3 bedroom | $1,504 | $2,190 | $1,325 |
| 4 bedroom | $1,764 | $2,423 | $1,521 |
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