Loading...

Multifamily Loans in
New Hartford, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in New Hartford, NY

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

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


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


New Hartford Market

The city of New Hartford in Oneida County has a population of 21,836. The median rent in Oneida County for a 2 bedroom is $847. The median New Hartford resident is 47 years old with a yearly income of $37,498. The average family has 2.94 members and a median household income of $67,056. New Hartford has a 45% higher education rate. The unemployment rate in New Hartford is 2.5%.


Population
21,836 people

County
Oneida County

Renters

24.3% of New Hartford households are renters.


Rent Burden

26.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Oneida County 1
New York 2
National 2
Studio $624 $909 $737
1 bedroom $665 $990 $813
2 bedroom $847 $1,202 $1,015
3 bedroom $1,054 $1,537 $1,325
4 bedroom $1,213 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

New Hartford Demographics


Median Individual Income
$37,498 / year

Median Household Income
$67,056 / year

Families w/ Dual Incomes
56%

Unemployment Rate
2.5%
Household Income Distribution
New Hartford, NY

Median Age
47 years

Avg Family Size
2.94 people
Age Distribution
New Hartford, NY

College Education or Above
45%

STEM College Graduates
50%
Education Distribution
New Hartford, 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