East Hempfield is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in East Hempfield are considered moderate risk due to market dynamics. Interest rates for multifamily loans in East Hempfield are slightly higher than the national average. East Hempfield 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 East Hempfield.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in East Hempfield 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 East Hempfield.
The city of East Hempfield in Lancaster County has a population of 24,461. The median rent in Lancaster County for a 2 bedroom is $1,090. The median East Hempfield resident is 44 years old with a yearly income of $37,701. The average family has 2.89 members and a median household income of $77,961. East Hempfield has a 47% higher education rate. The unemployment rate in East Hempfield is 2.7%.
31.8% of East Hempfield households are renters.
33.5% median household income spent on rent.
Bedrooms |
Lancaster County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $733 | $680 | $737 |
| 1 bedroom | $867 | $747 | $813 |
| 2 bedroom | $1,090 | $929 | $1,015 |
| 3 bedroom | $1,374 | $1,198 | $1,325 |
| 4 bedroom | $1,478 | $1,330 | $1,521 |
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