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Multifamily Loans in
Hampton, VA

Overview

Hampton is located in a good market for 5+ unit multifamily loans. Multifamily loans in Hampton are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Hampton are competitive. Hampton apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Hampton.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Hampton, VA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hampton 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 $7.5M
5 Year Fixed 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
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 Hampton 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 Hampton, VA

All major multifamily lender types are lending in Hampton.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 05, 2021


Hampton Market

The city of Hampton in Hampton city has a population of 134,510. The median rent in Hampton city for a 2 bedroom is $1,233. The median Hampton resident is 36 years old with a yearly income of $30,458. The average family has 3.06 members and a median household income of $56,287. Hampton has a 27% higher education rate. The unemployment rate in Hampton is 6.1%.


Population
134,510 people

County
Hampton city

Renters

44.3% of Hampton households are renters.


Rent Burden

32.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hampton city 1
Virginia 2
National 2
Studio $1,032 $833 $737
1 bedroom $1,045 $897 $813
2 bedroom $1,233 $1,072 $1,015
3 bedroom $1,740 $1,423 $1,325
4 bedroom $2,135 $1,680 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hampton Demographics


Median Individual Income
$30,458 / year

Median Household Income
$56,287 / year

Families w/ Dual Incomes
49%

Unemployment Rate
6.1%
Household Income Distribution
Hampton, VA

Median Age
36 years

Avg Family Size
3.06 people
Age Distribution
Hampton, VA

College Education or Above
27%

STEM College Graduates
45%
Education Distribution
Hampton, VA
Source: U.S. Census Bureau

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