Penfield is located in a good market for 5+ unit multifamily loans. Multifamily loans in Penfield are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Penfield are competitive. Penfield 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 Penfield.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Penfield are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.44% - 5.68% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Penfield.
The city of Penfield in Monroe County has a population of 37,252. The median rent in Monroe County for a 2 bedroom is $1,070. The median Penfield resident is 47 years old with a yearly income of $42,759. The average family has 2.93 members and a median household income of $84,916. Penfield has a 53% higher education rate. The unemployment rate in Penfield is 2.8%.
17.2% of Penfield households are renters.
26.7% median household income spent on rent.
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 |
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