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Multifamily Loans in
Hanahan, SC

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Hanahan, SC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hanahan 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 3.22% - 3.47%
7 Year Fixed 3.39% - 3.84%
10 Year Fixed 3.37% - 3.77%
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 Hanahan 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 Hanahan, SC

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


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


Hanahan Market

The city of Hanahan in Berkeley County has a population of 26,917. The median rent in Berkeley County for a 2 bedroom is $1,317. The median Hanahan resident is 34 years old with a yearly income of $33,975. The average family has 3.26 members and a median household income of $70,043. Hanahan has a 34% higher education rate. The unemployment rate in Hanahan is 3.7%.


Population
26,917 people

County
Berkeley County

Renters

33.6% of Hanahan households are renters.


Rent Burden

30.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Berkeley County 1
South Carolina 2
National 2
Studio $1,091 $697 $737
1 bedroom $1,155 $732 $813
2 bedroom $1,317 $879 $1,015
3 bedroom $1,685 $1,158 $1,325
4 bedroom $2,194 $1,369 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hanahan Demographics


Median Individual Income
$33,975 / year

Median Household Income
$70,043 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.7%
Household Income Distribution
Hanahan, SC

Median Age
34 years

Avg Family Size
3.26 people
Age Distribution
Hanahan, SC

College Education or Above
34%

STEM College Graduates
42%
Education Distribution
Hanahan, SC
Source: U.S. Census Bureau

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