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Multifamily Loans in
East Hempfield, PA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in East Hempfield, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in East Hempfield 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 East Hempfield 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 East Hempfield, PA

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


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


East Hempfield Market

The city of East Hempfield in Lancaster County has a population of 24,461. The median rent in Lancaster County for a 2 bedroom is $1,090. The median East Hempfield resident is 44 years old with a yearly income of $37,701. The average family has 2.89 members and a median household income of $77,961. East Hempfield has a 47% higher education rate. The unemployment rate in East Hempfield is 2.7%.


Population
24,461 people

County
Lancaster County

Renters

31.8% of East Hempfield households are renters.


Rent Burden

33.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lancaster County 1
Pennsylvania 2
National 2
Studio $733 $680 $737
1 bedroom $867 $747 $813
2 bedroom $1,090 $929 $1,015
3 bedroom $1,374 $1,198 $1,325
4 bedroom $1,478 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

East Hempfield Demographics


Median Individual Income
$37,701 / year

Median Household Income
$77,961 / year

Families w/ Dual Incomes
55%

Unemployment Rate
2.7%
Household Income Distribution
East Hempfield, PA

Median Age
44 years

Avg Family Size
2.89 people
Age Distribution
East Hempfield, PA

College Education or Above
47%

STEM College Graduates
42%
Education Distribution
East Hempfield, PA
Source: U.S. Census Bureau

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