Loading...

Multifamily Loans in
Le Ray, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Le Ray, NY

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

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


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


Le Ray Market

The city of Le Ray in Jefferson County has a population of 21,427. The median rent in Jefferson County for a 2 bedroom is $1,139. The median Le Ray resident is 24 years old with a yearly income of $27,272. The average family has 3.16 members and a median household income of $53,227. Le Ray has a 27% higher education rate. The unemployment rate in Le Ray is 6.6%.


Population
21,427 people

County
Jefferson County

Renters

81% of Le Ray households are renters.


Rent Burden

30.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Jefferson County 1
New York 2
National 2
Studio $751 $909 $737
1 bedroom $864 $990 $813
2 bedroom $1,139 $1,202 $1,015
3 bedroom $1,511 $1,537 $1,325
4 bedroom $1,751 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Le Ray Demographics


Median Individual Income
$27,272 / year

Median Household Income
$53,227 / year

Families w/ Dual Incomes
57%

Unemployment Rate
6.6%
Household Income Distribution
Le Ray, NY

Median Age
24 years

Avg Family Size
3.16 people
Age Distribution
Le Ray, NY

College Education or Above
27%

STEM College Graduates
39%
Education Distribution
Le Ray, 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