Kearney is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Kearney are considered greater risk due to market dynamics. Interest rates for multifamily loans in Kearney are higher than the national average. Kearney 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 Kearney.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kearney are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.83% - 7.07% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Kearney.
The city of Kearney in Buffalo County has a population of 33,867. The median rent in Buffalo County for a 2 bedroom is $877. The median Kearney resident is 32 years old with a yearly income of $26,502. The average family has 2.98 members and a median household income of $57,064. Kearney has a 38% higher education rate. The unemployment rate in Kearney is 2.8%.
40.9% of Kearney households are renters.
30.9% median household income spent on rent.
Bedrooms |
Buffalo County 1 |
Nebraska 2 |
National 2 |
|---|---|---|---|
| Studio | $579 | $526 | $737 |
| 1 bedroom | $665 | $616 | $813 |
| 2 bedroom | $877 | $786 | $1,015 |
| 3 bedroom | $1,198 | $1,024 | $1,325 |
| 4 bedroom | $1,518 | $1,140 | $1,521 |
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