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Multifamily Loans in
Hobart, IN

Overview

Hobart is located in a good market for 5+ unit multifamily loans. Multifamily loans in Hobart are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Hobart are competitive. Hobart 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 Hobart.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Hobart, IN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hobart 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 3.37% - 3.61%
7 Year Fixed 3.25% - 3.49%
10 Year Fixed 3.47% - 3.71%
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 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
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 Hobart 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 Hobart, IN

All major multifamily lender types are lending in Hobart.


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 02, 2021


Hobart Market

The city of Hobart in Lake County has a population of 27,939. The median rent in Lake County for a 2 bedroom is $978. The median Hobart resident is 38 years old with a yearly income of $31,586. The average family has 3.2 members and a median household income of $58,829. Hobart has a 24% higher education rate. The unemployment rate in Hobart is 7.2%.


Population
27,939 people

County
Lake County

Renters

23.7% of Hobart households are renters.


Rent Burden

31.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lake County 1
Indiana 2
National 2
Studio $645 $593 $737
1 bedroom $794 $666 $813
2 bedroom $978 $840 $1,015
3 bedroom $1,216 $1,099 $1,325
4 bedroom $1,378 $1,251 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hobart Demographics


Median Individual Income
$31,586 / year

Median Household Income
$58,829 / year

Families w/ Dual Incomes
51%

Unemployment Rate
7.2%
Household Income Distribution
Hobart, IN

Median Age
38 years

Avg Family Size
3.2 people
Age Distribution
Hobart, IN

College Education or Above
24%

STEM College Graduates
37%
Education Distribution
Hobart, IN
Source: U.S. Census Bureau

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