Hastings is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Hastings are considered greater risk due to market dynamics. Interest rates for multifamily loans in Hastings are higher than the national average. Hastings 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 Hastings.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hastings 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 | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.23% - 5.47% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Hastings.
The city of Hastings in Adams County has a population of 24,692. The median rent in Adams County for a 2 bedroom is $778. The median Hastings resident is 36 years old with a yearly income of $26,959. The average family has 3.04 members and a median household income of $48,644. Hastings has a 25% higher education rate. The unemployment rate in Hastings is 2.5%.
38.7% of Hastings households are renters.
28.7% median household income spent on rent.
Bedrooms |
Adams County 1 |
Nebraska 2 |
National 2 |
|---|---|---|---|
| Studio | $513 | $526 | $737 |
| 1 bedroom | $614 | $616 | $813 |
| 2 bedroom | $778 | $786 | $1,015 |
| 3 bedroom | $1,047 | $1,024 | $1,325 |
| 4 bedroom | $1,246 | $1,140 | $1,521 |
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