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Multifamily Loans in
Elizabethtown, KY

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Elizabethtown, KY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Elizabethtown 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 3.68% - 3.92%
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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Elizabethtown 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 04, 2021


Multifamily Lenders in Elizabethtown, KY

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


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 04, 2021


Elizabethtown Market

The city of Elizabethtown in Hardin County has a population of 30,289. The median rent in Hardin County for a 2 bedroom is $886. The median Elizabethtown resident is 37 years old with a yearly income of $28,937. The average family has 2.94 members and a median household income of $46,754. Elizabethtown has a 29% higher education rate. The unemployment rate in Elizabethtown is 5.9%.


Population
30,289 people

County
Hardin County

Renters

55.7% of Elizabethtown households are renters.


Rent Burden

25.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hardin County 1
Kentucky 2
National 2
Studio $668 $548 $737
1 bedroom $672 $605 $813
2 bedroom $886 $763 $1,015
3 bedroom $1,268 $1,011 $1,325
4 bedroom $1,534 $1,144 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Elizabethtown Demographics


Median Individual Income
$28,937 / year

Median Household Income
$46,754 / year

Families w/ Dual Incomes
49%

Unemployment Rate
5.9%
Household Income Distribution
Elizabethtown, KY

Median Age
37 years

Avg Family Size
2.94 people
Age Distribution
Elizabethtown, KY

College Education or Above
29%

STEM College Graduates
39%
Education Distribution
Elizabethtown, KY
Source: U.S. Census Bureau

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