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Multifamily Loans in
Hanford, CA

Overview

Hanford is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Hanford are considered greater risk due to market dynamics. Interest rates for multifamily loans in Hanford are higher than the national average. Hanford apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Hanford.

Get multifamily loan quotes for Dec 06, 2021


Multifamily Loan Rates in Hanford, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hanford 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 3.73% - 3.97%
7 Year Fixed 3.54% - 3.78%
10 Year Fixed 3.78% - 4.02%
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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/05/2021. This is not an offer or commitment to lend. Multifamily loan rates in Hanford 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 06, 2021


Multifamily Lenders in Hanford, CA

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


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 06, 2021


Hanford Market

The city of Hanford in Kings County has a population of 57,703. The median rent in Kings County for a 2 bedroom is $1,182. The median Hanford resident is 34 years old with a yearly income of $30,038. The average family has 3.4 members and a median household income of $62,413. Hanford has a 19% higher education rate. The unemployment rate in Hanford is 7.4%.


Population
57,703 people

County
Kings County

Renters

43% of Hanford households are renters.


Rent Burden

28.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kings County 1
California 2
National 2
Studio $953 $1,137 $737
1 bedroom $962 $1,291 $813
2 bedroom $1,182 $1,635 $1,015
3 bedroom $1,692 $2,254 $1,325
4 bedroom $1,820 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hanford Demographics


Median Individual Income
$30,038 / year

Median Household Income
$62,413 / year

Families w/ Dual Incomes
49%

Unemployment Rate
7.4%
Household Income Distribution
Hanford, CA

Median Age
34 years

Avg Family Size
3.4 people
Age Distribution
Hanford, CA

College Education or Above
19%

STEM College Graduates
38%
Education Distribution
Hanford, CA
Source: U.S. Census Bureau

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