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Multifamily Loans in
Hutchinson, KS

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Hutchinson, KS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hutchinson 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Hutchinson 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 Hutchinson, KS

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


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


Hutchinson Market

The city of Hutchinson in Reno County has a population of 40,383. The median rent in Reno County for a 2 bedroom is $828. The median Hutchinson resident is 39 years old with a yearly income of $25,967. The average family has 3 members and a median household income of $46,927. Hutchinson has a 21% higher education rate. The unemployment rate in Hutchinson is 4.7%.


Population
40,383 people

County
Reno County

Renters

35.7% of Hutchinson households are renters.


Rent Burden

28.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Reno County 1
Kansas 2
National 2
Studio $546 $581 $737
1 bedroom $628 $612 $813
2 bedroom $828 $781 $1,015
3 bedroom $1,030 $1,027 $1,325
4 bedroom $1,172 $1,166 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hutchinson Demographics


Median Individual Income
$25,967 / year

Median Household Income
$46,927 / year

Families w/ Dual Incomes
52%

Unemployment Rate
4.7%
Household Income Distribution
Hutchinson, KS

Median Age
39 years

Avg Family Size
3 people
Age Distribution
Hutchinson, KS

College Education or Above
21%

STEM College Graduates
33%
Education Distribution
Hutchinson, KS
Source: U.S. Census Bureau

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