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Multifamily Loans in
Harrisburg, PA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Harrisburg, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Harrisburg 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 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
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 Harrisburg 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 Harrisburg, PA

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


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


Harrisburg Market

The city of Harrisburg in Dauphin County has a population of 49,271. The median rent in Dauphin County for a 2 bedroom is $1,042. The median Harrisburg resident is 31 years old with a yearly income of $25,047. The average family has 3.24 members and a median household income of $39,685. Harrisburg has a 22% higher education rate. The unemployment rate in Harrisburg is 8.6%.


Population
49,271 people

County
Dauphin County

Renters

64.4% of Harrisburg households are renters.


Rent Burden

32% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Dauphin County 1
Pennsylvania 2
National 2
Studio $694 $680 $737
1 bedroom $824 $747 $813
2 bedroom $1,042 $929 $1,015
3 bedroom $1,324 $1,198 $1,325
4 bedroom $1,413 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Harrisburg Demographics


Median Individual Income
$25,047 / year

Median Household Income
$39,685 / year

Families w/ Dual Incomes
43%

Unemployment Rate
8.6%
Household Income Distribution
Harrisburg, PA

Median Age
31 years

Avg Family Size
3.24 people
Age Distribution
Harrisburg, PA

College Education or Above
22%

STEM College Graduates
44%
Education Distribution
Harrisburg, PA
Source: U.S. Census Bureau

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