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Multifamily Loans in
Hagerstown, MD

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Hagerstown, MD

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hagerstown 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Hagerstown 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 05, 2021


Multifamily Lenders in Hagerstown, MD

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


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 05, 2021


Hagerstown Market

The city of Hagerstown in Washington County has a population of 40,100. The median rent in Washington County for a 2 bedroom is $947. The median Hagerstown resident is 35 years old with a yearly income of $22,995. The average family has 3.09 members and a median household income of $40,800. Hagerstown has a 16% higher education rate. The unemployment rate in Hagerstown is 7.6%.


Population
40,100 people

County
Washington County

Renters

58.4% of Hagerstown households are renters.


Rent Burden

34.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Washington County 1
Maryland 2
National 2
Studio $625 $1,013 $737
1 bedroom $740 $1,126 $813
2 bedroom $947 $1,365 $1,015
3 bedroom $1,355 $1,803 $1,325
4 bedroom $1,640 $2,127 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hagerstown Demographics


Median Individual Income
$22,995 / year

Median Household Income
$40,800 / year

Families w/ Dual Incomes
40%

Unemployment Rate
7.6%
Household Income Distribution
Hagerstown, MD

Median Age
35 years

Avg Family Size
3.09 people
Age Distribution
Hagerstown, MD

College Education or Above
16%

STEM College Graduates
47%
Education Distribution
Hagerstown, MD
Source: U.S. Census Bureau

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