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Multifamily Loans in
North Tonawanda, NY

Overview

North Tonawanda is located in a good market for 5+ unit multifamily loans. Multifamily loans in North Tonawanda are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in North Tonawanda are competitive. North Tonawanda apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in North Tonawanda.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in North Tonawanda, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Tonawanda 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 $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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®
$7.5M to $100M
5 Year Fixed 3.06% - 3.31%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.28% - 3.68%
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 North Tonawanda 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 North Tonawanda, NY

All major multifamily lender types are lending in North Tonawanda.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Nov 29, 2021


North Tonawanda Market

The city of North Tonawanda in Niagara County has a population of 30,245. The median rent in Niagara County for a 2 bedroom is $982. The median North Tonawanda resident is 46 years old with a yearly income of $31,942. The average family has 2.88 members and a median household income of $58,211. North Tonawanda has a 25% higher education rate. The unemployment rate in North Tonawanda is 4.8%.


Population
30,245 people

County
Niagara County

Renters

30.6% of North Tonawanda households are renters.


Rent Burden

26.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Niagara County 1
New York 2
National 2
Studio $794 $909 $737
1 bedroom $824 $990 $813
2 bedroom $982 $1,202 $1,015
3 bedroom $1,221 $1,537 $1,325
4 bedroom $1,370 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

North Tonawanda Demographics


Median Individual Income
$31,942 / year

Median Household Income
$58,211 / year

Families w/ Dual Incomes
53%

Unemployment Rate
4.8%
Household Income Distribution
North Tonawanda, NY

Median Age
46 years

Avg Family Size
2.88 people
Age Distribution
North Tonawanda, NY

College Education or Above
25%

STEM College Graduates
46%
Education Distribution
North Tonawanda, NY
Source: U.S. Census Bureau

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