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Multifamily Loans in
Chambersburg, PA

Overview

Chambersburg is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Chambersburg are considered greater risk due to market dynamics. Interest rates for multifamily loans in Chambersburg are higher than the national average. Chambersburg apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Chambersburg.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Chambersburg, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Chambersburg are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.78% - 4.02%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Chambersburg may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in Chambersburg, PA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Chambersburg.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Chambersburg Market

The city of Chambersburg in Franklin County has a population of 21,143. The median rent in Franklin County for a 2 bedroom is $959. The median Chambersburg resident is 38 years old with a yearly income of $28,572. The average family has 3.09 members and a median household income of $49,023. Chambersburg has a 24% higher education rate. The unemployment rate in Chambersburg is 4.7%.


Population
21,143 people

County
Franklin County

Renters

54.6% of Chambersburg households are renters.


Rent Burden

26.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Franklin County 1
Pennsylvania 2
National 2
Studio $691 $680 $737
1 bedroom $728 $747 $813
2 bedroom $959 $929 $1,015
3 bedroom $1,280 $1,198 $1,325
4 bedroom $1,312 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Chambersburg Demographics


Median Individual Income
$28,572 / year

Median Household Income
$49,023 / year

Families w/ Dual Incomes
50%

Unemployment Rate
4.7%
Household Income Distribution
Chambersburg, PA

Median Age
38 years

Avg Family Size
3.09 people
Age Distribution
Chambersburg, PA

College Education or Above
24%

STEM College Graduates
36%
Education Distribution
Chambersburg, PA
Source: U.S. Census Bureau

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