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Multifamily Loans in
De Witt, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in De Witt, NY

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

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


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


De Witt Market

The city of De Witt in Onondaga County has a population of 25,269. The median rent in Onondaga County for a 2 bedroom is $955. The median De Witt resident is 44 years old with a yearly income of $35,914. The average family has 3.03 members and a median household income of $71,490. De Witt has a 46% higher education rate. The unemployment rate in De Witt is 4.1%.


Population
25,269 people

County
Onondaga County

Renters

29.5% of De Witt households are renters.


Rent Burden

27.7% 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

De Witt Demographics


Median Individual Income
$35,914 / year

Median Household Income
$71,490 / year

Families w/ Dual Incomes
56%

Unemployment Rate
4.1%
Household Income Distribution
De Witt, NY

Median Age
44 years

Avg Family Size
3.03 people
Age Distribution
De Witt, NY

College Education or Above
46%

STEM College Graduates
51%
Education Distribution
De Witt, NY
Source: U.S. Census Bureau

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