Hopewell is located in a good market for 5+ unit multifamily loans. Multifamily loans in Hopewell are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Hopewell are competitive. Hopewell 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 Hopewell.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hopewell 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 | 5.28% - 5.52% |
| 10 Year Fixed | 5.19% - 5.43% |
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 Hopewell.
The city of Hopewell in Hopewell city has a population of 22,529. The median rent in Hopewell city for a 2 bedroom is $1,252. The median Hopewell resident is 36 years old with a yearly income of $25,362. The average family has 3 members and a median household income of $39,030. Hopewell has a 15% higher education rate. The unemployment rate in Hopewell is 6.9%.
53.3% of Hopewell households are renters.
34.1% median household income spent on rent.
Bedrooms |
Hopewell city 1 |
Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,069 | $833 | $737 |
| 1 bedroom | $1,098 | $897 | $813 |
| 2 bedroom | $1,252 | $1,072 | $1,015 |
| 3 bedroom | $1,655 | $1,423 | $1,325 |
| 4 bedroom | $1,981 | $1,680 | $1,521 |
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