Merrimack is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Merrimack are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Merrimack are slightly higher than the national average. Merrimack 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 Merrimack.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Merrimack 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 Merrimack.
The city of Merrimack in Hillsborough County has a population of 25,987. The median rent in Hillsborough County for a 2 bedroom is $1,396. The median Merrimack resident is 43 years old with a yearly income of $45,020. The average family has 3.04 members and a median household income of $107,232. Merrimack has a 47% higher education rate. The unemployment rate in Merrimack is 3.8%.
13.2% of Merrimack households are renters.
38.3% median household income spent on rent.
Bedrooms |
Hillsborough County 1 |
New Hampshire 2 |
National 2 |
|---|---|---|---|
| Studio | $952 | $842 | $737 |
| 1 bedroom | $1,103 | $959 | $813 |
| 2 bedroom | $1,396 | $1,222 | $1,015 |
| 3 bedroom | $1,736 | $1,597 | $1,325 |
| 4 bedroom | $1,893 | $1,897 | $1,521 |
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