Hanford is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Hanford are considered greater risk due to market dynamics. Interest rates for multifamily loans in Hanford are higher than the national average. Hanford 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 Hanford.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hanford 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 | 5.24% - 5.48% |
| 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 | 5.70% - 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 Hanford.
The city of Hanford in Kings County has a population of 57,703. The median rent in Kings County for a 2 bedroom is $1,182. The median Hanford resident is 34 years old with a yearly income of $30,038. The average family has 3.4 members and a median household income of $62,413. Hanford has a 19% higher education rate. The unemployment rate in Hanford is 7.4%.
43% of Hanford households are renters.
28.5% median household income spent on rent.
Bedrooms |
Kings County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $953 | $1,137 | $737 |
| 1 bedroom | $962 | $1,291 | $813 |
| 2 bedroom | $1,182 | $1,635 | $1,015 |
| 3 bedroom | $1,692 | $2,254 | $1,325 |
| 4 bedroom | $1,820 | $2,613 | $1,521 |
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