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Multifamily Loans in
Jamestown, NY

Overview

Jamestown is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Jamestown are considered greater risk due to market dynamics. Interest rates for multifamily loans in Jamestown are higher than the national average. Jamestown apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Jamestown.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Jamestown, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Jamestown 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.78% - 4.02%
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 3.16% - 3.41%
7 Year Fixed 3.40% - 3.85%
10 Year Fixed 3.38% - 3.78%
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 Jamestown 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 Jamestown, NY

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


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


Jamestown Market

The city of Jamestown in Chautauqua County has a population of 29,058. The median rent in Chautauqua County for a 2 bedroom is $795. The median Jamestown resident is 38 years old with a yearly income of $21,196. The average family has 3.06 members and a median household income of $33,420. Jamestown has a 17% higher education rate. The unemployment rate in Jamestown is 7.5%.


Population
29,058 people

County
Chautauqua County

Renters

50.3% of Jamestown households are renters.


Rent Burden

37.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Chautauqua County 1
New York 2
National 2
Studio $593 $909 $737
1 bedroom $650 $990 $813
2 bedroom $795 $1,202 $1,015
3 bedroom $1,038 $1,537 $1,325
4 bedroom $1,133 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Jamestown Demographics


Median Individual Income
$21,196 / year

Median Household Income
$33,420 / year

Families w/ Dual Incomes
43%

Unemployment Rate
7.5%
Household Income Distribution
Jamestown, NY

Median Age
38 years

Avg Family Size
3.06 people
Age Distribution
Jamestown, NY

College Education or Above
17%

STEM College Graduates
32%
Education Distribution
Jamestown, NY
Source: U.S. Census Bureau

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