Chambersburg is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Chambersburg are considered greater risk due to market dynamics. Interest rates for multifamily loans in Chambersburg are higher than the national average. Chambersburg 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 Chambersburg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Chambersburg are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.33% - 5.57% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Chambersburg.
The city of Chambersburg in Franklin County has a population of 21,143. The median rent in Franklin County for a 2 bedroom is $959. The median Chambersburg resident is 38 years old with a yearly income of $28,572. The average family has 3.09 members and a median household income of $49,023. Chambersburg has a 24% higher education rate. The unemployment rate in Chambersburg is 4.7%.
54.6% of Chambersburg households are renters.
26.3% median household income spent on rent.
Bedrooms |
Franklin County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $691 | $680 | $737 |
| 1 bedroom | $728 | $747 | $813 |
| 2 bedroom | $959 | $929 | $1,015 |
| 3 bedroom | $1,280 | $1,198 | $1,325 |
| 4 bedroom | $1,312 | $1,330 | $1,521 |
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