Short Pump is located in a good market for 5+ unit multifamily loans. Multifamily loans in Short Pump are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Short Pump are competitive. Short Pump 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 Short Pump.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Short Pump 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 Short Pump.
The city of Short Pump in Henrico County has a population of 28,328. The median rent in Henrico County for a 2 bedroom is $1,252. The median Short Pump resident is 37 years old with a yearly income of $60,722. The average family has 3.25 members and a median household income of $107,321. Short Pump has a 72% higher education rate. The unemployment rate in Short Pump is 2.3%.
42.6% of Short Pump households are renters.
22% median household income spent on rent.
Bedrooms |
Henrico County 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 |
We're here to help.