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Multifamily Loans in
Hazleton, PA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Hazleton, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hazleton 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 Hazleton 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 Hazleton, PA

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


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


Hazleton Market

The city of Hazleton in Luzerne County has a population of 24,794. The median rent in Luzerne County for a 2 bedroom is $887. The median Hazleton resident is 36 years old with a yearly income of $24,935. The average family has 3.19 members and a median household income of $40,467. Hazleton has a 13% higher education rate. The unemployment rate in Hazleton is 8.2%.


Population
24,794 people

County
Luzerne County

Renters

50.7% of Hazleton households are renters.


Rent Burden

31.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Luzerne County 1
Pennsylvania 2
National 2
Studio $624 $680 $737
1 bedroom $724 $747 $813
2 bedroom $887 $929 $1,015
3 bedroom $1,144 $1,198 $1,325
4 bedroom $1,222 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hazleton Demographics


Median Individual Income
$24,935 / year

Median Household Income
$40,467 / year

Families w/ Dual Incomes
49%

Unemployment Rate
8.2%
Household Income Distribution
Hazleton, PA

Median Age
36 years

Avg Family Size
3.19 people
Age Distribution
Hazleton, PA

College Education or Above
13%

STEM College Graduates
45%
Education Distribution
Hazleton, PA
Source: U.S. Census Bureau

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