Loading...

Multifamily Loans in
Buffalo, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Buffalo, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Buffalo 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 Buffalo 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 Buffalo, NY

All major multifamily lender types are lending in Buffalo.


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


Buffalo Market

The city of Buffalo in Erie County has a population of 255,284. The median rent in Erie County for a 2 bedroom is $982. The median Buffalo resident is 33 years old with a yearly income of $23,316. The average family has 3.07 members and a median household income of $37,354. Buffalo has a 28% higher education rate. The unemployment rate in Buffalo is 7.1%.


Population
255,284 people

County
Erie County

Renters

59.3% of Buffalo households are renters.


Rent Burden

35.7% 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

Buffalo Demographics


Median Individual Income
$23,316 / year

Median Household Income
$37,354 / year

Families w/ Dual Incomes
41%

Unemployment Rate
7.1%
Household Income Distribution
Buffalo, NY

Median Age
33 years

Avg Family Size
3.07 people
Age Distribution
Buffalo, NY

College Education or Above
28%

STEM College Graduates
43%
Education Distribution
Buffalo, NY
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day