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Multifamily Loans in
East Pennsboro, PA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in East Pennsboro, PA

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

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


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 Pennsboro Market

The city of East Pennsboro in Cumberland County has a population of 21,432. The median rent in Cumberland County for a 2 bedroom is $1,042. The median East Pennsboro resident is 42 years old with a yearly income of $35,013. The average family has 2.85 members and a median household income of $64,879. East Pennsboro has a 34% higher education rate. The unemployment rate in East Pennsboro is 2.9%.


Population
21,432 people

County
Cumberland County

Renters

34.4% of East Pennsboro households are renters.


Rent Burden

25.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cumberland 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

East Pennsboro Demographics


Median Individual Income
$35,013 / year

Median Household Income
$64,879 / year

Families w/ Dual Incomes
57%

Unemployment Rate
2.9%
Household Income Distribution
East Pennsboro, PA

Median Age
42 years

Avg Family Size
2.85 people
Age Distribution
East Pennsboro, PA

College Education or Above
34%

STEM College Graduates
46%
Education Distribution
East Pennsboro, PA
Source: U.S. Census Bureau

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