Hampden is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Hampden are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Hampden are slightly higher than the national average. Hampden 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 Hampden.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hampden 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 Hampden.
The city of Hampden in Cumberland County has a population of 29,966. The median rent in Cumberland County for a 2 bedroom is $1,042. The median Hampden resident is 42 years old with a yearly income of $49,523. The average family has 3.07 members and a median household income of $94,617. Hampden has a 53% higher education rate. The unemployment rate in Hampden is 2.9%.
22.4% of Hampden households are renters.
24.3% median household income spent on rent.
Bedrooms |
Cumberland 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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