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Multifamily Loans in
Pittsford, NY

Overview

Pittsford is located in a good market for 5+ unit multifamily loans. Multifamily loans in Pittsford are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Pittsford are competitive. Pittsford 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 Pittsford.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Pittsford, NY

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

All major multifamily lender types are lending in Pittsford.


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


Pittsford Market

The city of Pittsford in Monroe County has a population of 29,410. The median rent in Monroe County for a 2 bedroom is $1,070. The median Pittsford resident is 43 years old with a yearly income of $48,176. The average family has 2.97 members and a median household income of $123,625. Pittsford has a 76% higher education rate. The unemployment rate in Pittsford is 3.0%.


Population
29,410 people

County
Monroe County

Renters

14.2% of Pittsford households are renters.


Rent Burden

23.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Monroe County 1
New York 2
National 2
Studio $742 $909 $737
1 bedroom $856 $990 $813
2 bedroom $1,070 $1,202 $1,015
3 bedroom $1,331 $1,537 $1,325
4 bedroom $1,451 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Pittsford Demographics


Median Individual Income
$48,176 / year

Median Household Income
$123,625 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.0%
Household Income Distribution
Pittsford, NY

Median Age
43 years

Avg Family Size
2.97 people
Age Distribution
Pittsford, NY

College Education or Above
76%

STEM College Graduates
51%
Education Distribution
Pittsford, NY
Source: U.S. Census Bureau

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