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Multifamily Loans in
Hopkinsville, KY

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Hopkinsville, KY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hopkinsville 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Hopkinsville 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 04, 2021


Multifamily Lenders in Hopkinsville, KY

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


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 04, 2021


Hopkinsville Market

The city of Hopkinsville in Christian County has a population of 30,680. The median rent in Christian County for a 2 bedroom is $929. The median Hopkinsville resident is 36 years old with a yearly income of $24,474. The average family has 3.01 members and a median household income of $41,597. Hopkinsville has a 20% higher education rate. The unemployment rate in Hopkinsville is 7.0%.


Population
30,680 people

County
Christian County

Renters

50.3% of Hopkinsville households are renters.


Rent Burden

30.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Christian County 1
Kentucky 2
National 2
Studio $614 $548 $737
1 bedroom $734 $605 $813
2 bedroom $929 $763 $1,015
3 bedroom $1,330 $1,011 $1,325
4 bedroom $1,608 $1,144 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hopkinsville Demographics


Median Individual Income
$24,474 / year

Median Household Income
$41,597 / year

Families w/ Dual Incomes
40%

Unemployment Rate
7.0%
Household Income Distribution
Hopkinsville, KY

Median Age
36 years

Avg Family Size
3.01 people
Age Distribution
Hopkinsville, KY

College Education or Above
20%

STEM College Graduates
33%
Education Distribution
Hopkinsville, KY
Source: U.S. Census Bureau

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