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Multifamily Loans in
Rochester, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Rochester, NY

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

All major multifamily lender types are lending in Rochester.


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


Rochester Market

The city of Rochester in Monroe County has a population of 205,695. The median rent in Monroe County for a 2 bedroom is $1,070. The median Rochester resident is 32 years old with a yearly income of $22,140. The average family has 3.2 members and a median household income of $35,590. Rochester has a 25% higher education rate. The unemployment rate in Rochester is 10.2%.


Population
205,695 people

County
Monroe County

Renters

63.6% of Rochester households are renters.


Rent Burden

39.1% 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

Rochester Demographics


Median Individual Income
$22,140 / year

Median Household Income
$35,590 / year

Families w/ Dual Incomes
42%

Unemployment Rate
10.2%
Household Income Distribution
Rochester, NY

Median Age
32 years

Avg Family Size
3.2 people
Age Distribution
Rochester, NY

College Education or Above
25%

STEM College Graduates
45%
Education Distribution
Rochester, NY
Source: U.S. Census Bureau

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