Loading...

Multifamily Loans in
Hickory, NC

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Hickory, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hickory 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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 3.10% - 3.35%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Hickory 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 02, 2021


Multifamily Lenders in Hickory, NC

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


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 02, 2021


Hickory Market

The city of Hickory in Catawba County has a population of 41,171. The median rent in Catawba County for a 2 bedroom is $711. The median Hickory resident is 38 years old with a yearly income of $26,293. The average family has 3.06 members and a median household income of $47,652. Hickory has a 33% higher education rate. The unemployment rate in Hickory is 8.5%.


Population
41,171 people

County
Catawba County

Renters

45.2% of Hickory households are renters.


Rent Burden

30.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Catawba County 1
North Carolina 2
National 2
Studio $571 $694 $737
1 bedroom $575 $713 $813
2 bedroom $711 $871 $1,015
3 bedroom $923 $1,152 $1,325
4 bedroom $1,056 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hickory Demographics


Median Individual Income
$26,293 / year

Median Household Income
$47,652 / year

Families w/ Dual Incomes
52%

Unemployment Rate
8.5%
Household Income Distribution
Hickory, NC

Median Age
38 years

Avg Family Size
3.06 people
Age Distribution
Hickory, NC

College Education or Above
33%

STEM College Graduates
38%
Education Distribution
Hickory, NC
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day