Loading...

Multifamily Loans in
Cicero, NY

Overview

Cicero is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Cicero are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Cicero are slightly higher than the national average. Cicero 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 Cicero.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Cicero, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cicero 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 $6M
5 Year Fixed 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
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®
$6M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.35% - 3.80%
10 Year Fixed 3.33% - 3.73%
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 Cicero 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 Cicero, NY

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Cicero.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Nov 29, 2021


Cicero Market

The city of Cicero in Onondaga County has a population of 30,868. The median rent in Onondaga County for a 2 bedroom is $955. The median Cicero resident is 43 years old with a yearly income of $39,927. The average family has 2.99 members and a median household income of $80,625. Cicero has a 32% higher education rate. The unemployment rate in Cicero is 3.7%.


Population
30,868 people

County
Onondaga County

Renters

19.7% of Cicero households are renters.


Rent Burden

27.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Onondaga County 1
New York 2
National 2
Studio $687 $909 $737
1 bedroom $773 $990 $813
2 bedroom $955 $1,202 $1,015
3 bedroom $1,192 $1,537 $1,325
4 bedroom $1,381 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cicero Demographics


Median Individual Income
$39,927 / year

Median Household Income
$80,625 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.7%
Household Income Distribution
Cicero, NY

Median Age
43 years

Avg Family Size
2.99 people
Age Distribution
Cicero, NY

College Education or Above
32%

STEM College Graduates
46%
Education Distribution
Cicero, 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