Hamilton is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Hamilton are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Hamilton are slightly higher than the national average. Hamilton 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 Hamilton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hamilton are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.63% - 5.87% |
| 7 Year Fixed | 5.34% - 5.58% |
| 10 Year Fixed | 5.28% - 5.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Hamilton.
The city of Hamilton in Mercer County has a population of 87,424. The median rent in Mercer County for a 2 bedroom is $1,683. The median Hamilton resident is 42 years old with a yearly income of $37,963. The average family has 3.25 members and a median household income of $78,177. Hamilton has a 31% higher education rate. The unemployment rate in Hamilton is 5.1%.
28.9% of Hamilton households are renters.
31.6% median household income spent on rent.
Bedrooms |
Mercer County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,110 | $1,166 | $737 |
| 1 bedroom | $1,280 | $1,353 | $813 |
| 2 bedroom | $1,683 | $1,671 | $1,015 |
| 3 bedroom | $2,093 | $2,131 | $1,325 |
| 4 bedroom | $2,304 | $2,445 | $1,521 |
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