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Multifamily Loans in
Exeter, PA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Exeter, PA

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

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


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


Exeter Market

The city of Exeter in Berks County has a population of 25,689. The median rent in Berks County for a 2 bedroom is $1,022. The median Exeter resident is 44 years old with a yearly income of $36,363. The average family has 3.05 members and a median household income of $82,889. Exeter has a 34% higher education rate. The unemployment rate in Exeter is 4.2%.


Population
25,689 people

County
Berks County

Renters

14.2% of Exeter households are renters.


Rent Burden

31.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Berks County 1
Pennsylvania 2
National 2
Studio $674 $680 $737
1 bedroom $796 $747 $813
2 bedroom $1,022 $929 $1,015
3 bedroom $1,271 $1,198 $1,325
4 bedroom $1,386 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Exeter Demographics


Median Individual Income
$36,363 / year

Median Household Income
$82,889 / year

Families w/ Dual Incomes
59%

Unemployment Rate
4.2%
Household Income Distribution
Exeter, PA

Median Age
44 years

Avg Family Size
3.05 people
Age Distribution
Exeter, PA

College Education or Above
34%

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

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