Dover is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Dover are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Dover are slightly higher than the national average. Dover 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 Dover.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Dover 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 Dover.
The city of Dover in York County has a population of 21,605. The median rent in York County for a 2 bedroom is $1,030. The median Dover resident is 43 years old with a yearly income of $31,615. The average family has 2.99 members and a median household income of $61,865. Dover has a 19% higher education rate. The unemployment rate in Dover is 2.7%.
15.7% of Dover households are renters.
27.9% median household income spent on rent.
Bedrooms |
York County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $680 | $680 | $737 |
| 1 bedroom | $782 | $747 | $813 |
| 2 bedroom | $1,030 | $929 | $1,015 |
| 3 bedroom | $1,302 | $1,198 | $1,325 |
| 4 bedroom | $1,429 | $1,330 | $1,521 |
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