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Multifamily Loans in
Hilton Head Island, SC

Overview

Hilton Head Island is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Hilton Head Island are considered greater risk due to market dynamics. Interest rates for multifamily loans in Hilton Head Island are higher than the national average. Hilton Head Island 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 Hilton Head Island.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Hilton Head Island, SC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hilton Head Island 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Hilton Head Island 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 Hilton Head Island, SC

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


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


Hilton Head Island Market

The city of Hilton Head Island in Beaufort County has a population of 39,861. The median rent in Beaufort County for a 2 bedroom is $1,292. The median Hilton Head Island resident is 58 years old with a yearly income of $38,766. The average family has 2.71 members and a median household income of $84,575. Hilton Head Island has a 54% higher education rate. The unemployment rate in Hilton Head Island is 3.8%.


Population
39,861 people

County
Beaufort County

Renters

20.9% of Hilton Head Island households are renters.


Rent Burden

35.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Beaufort County 1
South Carolina 2
National 2
Studio $1,108 $697 $737
1 bedroom $1,133 $732 $813
2 bedroom $1,292 $879 $1,015
3 bedroom $1,679 $1,158 $1,325
4 bedroom $2,237 $1,369 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hilton Head Island Demographics


Median Individual Income
$38,766 / year

Median Household Income
$84,575 / year

Families w/ Dual Incomes
36%

Unemployment Rate
3.8%
Household Income Distribution
Hilton Head Island, SC

Median Age
58 years

Avg Family Size
2.71 people
Age Distribution
Hilton Head Island, SC

College Education or Above
54%

STEM College Graduates
40%
Education Distribution
Hilton Head Island, SC
Source: U.S. Census Bureau

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