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Multifamily Loans in
Chili, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Chili, NY

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

All major multifamily lender types are lending in Chili.


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


Chili Market

The city of Chili in Monroe County has a population of 28,564. The median rent in Monroe County for a 2 bedroom is $1,070. The median Chili resident is 42 years old with a yearly income of $37,199. The average family has 2.99 members and a median household income of $74,415. Chili has a 38% higher education rate. The unemployment rate in Chili is 5.8%.


Population
28,564 people

County
Monroe County

Renters

21% of Chili households are renters.


Rent Burden

32.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Monroe County 1
New York 2
National 2
Studio $742 $909 $737
1 bedroom $856 $990 $813
2 bedroom $1,070 $1,202 $1,015
3 bedroom $1,331 $1,537 $1,325
4 bedroom $1,451 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Chili Demographics


Median Individual Income
$37,199 / year

Median Household Income
$74,415 / year

Families w/ Dual Incomes
61%

Unemployment Rate
5.8%
Household Income Distribution
Chili, NY

Median Age
42 years

Avg Family Size
2.99 people
Age Distribution
Chili, NY

College Education or Above
38%

STEM College Graduates
40%
Education Distribution
Chili, NY
Source: U.S. Census Bureau

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