Conventional Investment Property Loans in Syracuse, NY
Loan-size math and qualifying analysis for Conventional financing on Syracuse's $215k median home value. Strong fit.
Strong fit for Syracuse.
Syracuse medians ($215k) keep down payment requirements manageable, and rental fit (100/100) supports the long-term cash flow conventional loans depend on.
Payment on Syracuse's $215k median.
| Median home value (Syracuse) | $215,134 |
| Assumed LTV | 80% |
| Loan amount | $172,107 |
| Cash to close (down payment) | $43,027 |
| Assumed rate | 6.75% |
| Term | 30-year amortizing |
| Monthly P&I | $1,116/mo |
Does Syracuse pencil?
| Median monthly rent (Syracuse) | $1,592/mo |
| Property taxes (est. 1.1%/yr) | −$197/mo |
| Insurance (est. 0.5%/yr) | −$90/mo |
| NOI (before debt) | $1,305/mo |
| Debt service | −$1,116/mo |
| DSCR | 1.17 |
Most Conventional lenders require DSCR ≥ 1.10 to fund and ≥ 1.20-1.25 for the best pricing tier. Syracuse medians clear the funding minimum but not the best-rate tier — look for properties below median or with above-market rent.
Conventional financing — the mechanics.
Conforming residential mortgage for non-owner-occupied 1-4 unit properties, sold to Fannie Mae or Freddie Mac. Standard 30-year amortization. The lowest-cost real-estate financing available to most investors.
Lender requires: 680+ FICO, 20-25% down, DTI typically under 45% including the new mortgage, 2 years of W-2 + tax returns, 6 months of reserves per property. Closing in 30-45 days.
How New York law affects this loan.
New York: state income tax up to 10.9%. See full Conventional in New York breakdown.
Frequently asked.
What's the typical Conventional loan size for a property in Syracuse?
On Syracuse's $215k median home value, a Conventional loan at the standard 80% LTV would be approximately $172k, requiring $43k down.
What's the monthly payment on a typical Conventional loan in Syracuse?
Fully-amortizing 30-year payment on a $172k Conventional loan at the typical rate of 6.75% would be approximately $1k/month, excluding taxes and insurance.
Is Syracuse a good market for Conventional financing?
Syracuse medians ($215k) keep down payment requirements manageable, and rental fit (100/100) supports the long-term cash flow conventional loans depend on.
What credit and reserves do Conventional lenders require for Syracuse properties?
Lender requires: 680+ FICO, 20-25% down, DTI typically under 45% including the new mortgage, 2 years of W-2 + tax returns, 6 months of reserves per property. Closing in 30-45 days.
Compare financing options.
Investment-property loans underwritten on the property's cash flow rather than the borrower's person...
Hard moneyShort-term, asset-based real-estate financing for time-sensitive acquisitions and rehab projects. Ex...
FHAGovernment-insured residential loans designed for primary residence buyers — but the assumable featu...
The Weekly Deal Memo
One market memo, one off-market playbook, one tool review. Every Friday. Free.
No spam. Unsubscribe anytime.