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Multifamily Loans in
Derry, PA

Overview

Derry is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Derry are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Derry are slightly higher than the national average. Derry 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 Derry.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Derry, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Derry 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 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
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 Derry 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 Derry, PA

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


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


Derry Market

The city of Derry in Dauphin County has a population of 25,093. The median rent in Dauphin County for a 2 bedroom is $1,042. The median Derry resident is 45 years old with a yearly income of $42,885. The average family has 2.91 members and a median household income of $80,575. Derry has a 50% higher education rate. The unemployment rate in Derry is 2.5%.


Population
25,093 people

County
Dauphin County

Renters

36% of Derry households are renters.


Rent Burden

25.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Dauphin County 1
Pennsylvania 2
National 2
Studio $694 $680 $737
1 bedroom $824 $747 $813
2 bedroom $1,042 $929 $1,015
3 bedroom $1,324 $1,198 $1,325
4 bedroom $1,413 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Derry Demographics


Median Individual Income
$42,885 / year

Median Household Income
$80,575 / year

Families w/ Dual Incomes
58%

Unemployment Rate
2.5%
Household Income Distribution
Derry, PA

Median Age
45 years

Avg Family Size
2.91 people
Age Distribution
Derry, PA

College Education or Above
50%

STEM College Graduates
52%
Education Distribution
Derry, PA
Source: U.S. Census Bureau

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