Amherst is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Amherst are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Amherst are slightly higher than the national average. Amherst 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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Amherst 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.
The city of Amherst in Hampshire County has a population of 39,814. The median rent in Hampshire County for a 2 bedroom is $1,209. The median Amherst resident is 21 years old with a yearly income of $8,735. The average family has 2.96 members and a median household income of $56,905. Amherst has a 66% higher education rate. The unemployment rate in Amherst is 8.9%.
53.1% of Amherst households are renters.
46.2% 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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