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Multifamily Loans in
Hempfield, PA

Overview

Hempfield is located in a good market for 5+ unit multifamily loans. Multifamily loans in Hempfield are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Hempfield are competitive. Hempfield apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Hempfield.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Hempfield, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hempfield 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 $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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®
$7.5M to $100M
5 Year Fixed 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
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 Hempfield 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 Hempfield, PA

All major multifamily lender types are lending in Hempfield.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


Hempfield Market

The city of Hempfield in Westmoreland County has a population of 40,916. The median rent in Westmoreland County for a 2 bedroom is $1,022. The median Hempfield resident is 50 years old with a yearly income of $31,524. The average family has 2.72 members and a median household income of $65,132. Hempfield has a 33% higher education rate. The unemployment rate in Hempfield is 3.8%.


Population
40,916 people

County
Westmoreland County

Renters

18.8% of Hempfield households are renters.


Rent Burden

31.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Westmoreland County 1
Pennsylvania 2
National 2
Studio $776 $680 $737
1 bedroom $839 $747 $813
2 bedroom $1,022 $929 $1,015
3 bedroom $1,311 $1,198 $1,325
4 bedroom $1,436 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hempfield Demographics


Median Individual Income
$31,524 / year

Median Household Income
$65,132 / year

Families w/ Dual Incomes
54%

Unemployment Rate
3.8%
Household Income Distribution
Hempfield, PA

Median Age
50 years

Avg Family Size
2.72 people
Age Distribution
Hempfield, PA

College Education or Above
33%

STEM College Graduates
46%
Education Distribution
Hempfield, PA
Source: U.S. Census Bureau

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