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Multifamily Loans in
Kiryas Joel, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Kiryas Joel, NY

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

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


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


Kiryas Joel Market

The city of Kiryas Joel in Orange County has a population of 26,813. The median rent in Orange County for a 2 bedroom is $1,575. The median Kiryas Joel resident is 14 years old with a yearly income of $22,553. The average family has 5.94 members and a median household income of $31,277. Kiryas Joel has a 6% higher education rate. The unemployment rate in Kiryas Joel is 4.5%.


Population
26,813 people

County
Orange County

Renters

71.9% of Kiryas Joel households are renters.


Rent Burden

57.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Orange County 1
New York 2
National 2
Studio $1,169 $909 $737
1 bedroom $1,246 $990 $813
2 bedroom $1,575 $1,202 $1,015
3 bedroom $2,005 $1,537 $1,325
4 bedroom $2,251 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Kiryas Joel Demographics


Median Individual Income
$22,553 / year

Median Household Income
$31,277 / year

Families w/ Dual Incomes
25%

Unemployment Rate
4.5%
Household Income Distribution
Kiryas Joel, NY

Median Age
14 years

Avg Family Size
5.94 people
Age Distribution
Kiryas Joel, NY

College Education or Above
6%

STEM College Graduates
8%
Education Distribution
Kiryas Joel, NY
Source: U.S. Census Bureau

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