Holyoke is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Holyoke are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Holyoke are slightly higher than the national average. Holyoke 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 Holyoke.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Holyoke 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 Holyoke.
The city of Holyoke in Hampden County has a population of 40,117. The median rent in Hampden County for a 2 bedroom is $1,209. The median Holyoke resident is 35 years old with a yearly income of $22,250. The average family has 3.22 members and a median household income of $40,769. Holyoke has a 22% higher education rate. The unemployment rate in Holyoke is 6.0%.
59.3% of Holyoke households are renters.
44.7% median household income spent on rent.
Bedrooms |
Hampden County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $798 | $1,259 | $737 |
| 1 bedroom | $954 | $1,399 | $813 |
| 2 bedroom | $1,209 | $1,747 | $1,015 |
| 3 bedroom | $1,504 | $2,190 | $1,325 |
| 4 bedroom | $1,764 | $2,423 | $1,521 |
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