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Multifamily Loans in
Amherst, NY

Overview

Amherst is located in a good market for 5+ unit multifamily loans. Multifamily loans in Amherst are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Amherst are competitive. Amherst 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 Amherst.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Amherst, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Amherst are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.06% - 3.31%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/28/2021. This is not an offer or commitment to lend. Multifamily loan rates in Amherst may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Lenders in Amherst, NY

All major multifamily lender types are lending in Amherst.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Nov 29, 2021


Amherst Market

The city of Amherst in Erie County has a population of 125,509. The median rent in Erie County for a 2 bedroom is $982. The median Amherst resident is 41 years old with a yearly income of $37,419. The average family has 2.94 members and a median household income of $76,704. Amherst has a 56% higher education rate. The unemployment rate in Amherst is 3.0%.


Population
125,509 people

County
Erie County

Renters

30.1% of Amherst households are renters.


Rent Burden

34% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Erie County 1
New York 2
National 2
Studio $794 $909 $737
1 bedroom $824 $990 $813
2 bedroom $982 $1,202 $1,015
3 bedroom $1,221 $1,537 $1,325
4 bedroom $1,370 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Amherst Demographics


Median Individual Income
$37,419 / year

Median Household Income
$76,704 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.0%
Household Income Distribution
Amherst, NY

Median Age
41 years

Avg Family Size
2.94 people
Age Distribution
Amherst, NY

College Education or Above
56%

STEM College Graduates
47%
Education Distribution
Amherst, NY
Source: U.S. Census Bureau

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