Hempfield is located in a good market for 5+ unit multifamily loans. Multifamily loans in Hempfield are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Hempfield are competitive. Hempfield apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Hempfield.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.44% - 5.68% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Hempfield.
The city of Hempfield in Westmoreland County has a population of 40,916. The median rent in Westmoreland County for a 2 bedroom is $1,022. The median Hempfield resident is 50 years old with a yearly income of $31,524. The average family has 2.72 members and a median household income of $65,132. Hempfield has a 33% higher education rate. The unemployment rate in Hempfield is 3.8%.
18.8% of Hempfield households are renters.
31.3% median household income spent on rent.
Bedrooms |
Westmoreland County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $776 | $680 | $737 |
| 1 bedroom | $839 | $747 | $813 |
| 2 bedroom | $1,022 | $929 | $1,015 |
| 3 bedroom | $1,311 | $1,198 | $1,325 |
| 4 bedroom | $1,436 | $1,330 | $1,521 |
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