Derry is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Derry are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Derry are slightly higher than the national average. Derry 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 Derry.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Derry 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 | 5.63% - 5.87% |
| 7 Year Fixed | 5.34% - 5.58% |
| 10 Year Fixed | 5.28% - 5.52% |
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 | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Derry.
The city of Derry in Dauphin County has a population of 25,093. The median rent in Dauphin County for a 2 bedroom is $1,042. The median Derry resident is 45 years old with a yearly income of $42,885. The average family has 2.91 members and a median household income of $80,575. Derry has a 50% higher education rate. The unemployment rate in Derry is 2.5%.
36% of Derry households are renters.
25.4% median household income spent on rent.
Bedrooms |
Dauphin County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $694 | $680 | $737 |
| 1 bedroom | $824 | $747 | $813 |
| 2 bedroom | $1,042 | $929 | $1,015 |
| 3 bedroom | $1,324 | $1,198 | $1,325 |
| 4 bedroom | $1,413 | $1,330 | $1,521 |
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