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Multifamily Loans in
Babylon, NY

Overview

Babylon is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Babylon are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Babylon are some of the lowest nationally. Babylon 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 Babylon.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Babylon, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Babylon are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.01% - 3.26%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.23% - 3.63%
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 Babylon 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 Babylon, NY

All major multifamily lender types are lending in Babylon.


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


Babylon Market

The city of Babylon in Suffolk County has a population of 211,207. The median rent in Suffolk County for a 2 bedroom is $2,190. The median Babylon resident is 40 years old with a yearly income of $37,177. The average family has 3.72 members and a median household income of $94,011. Babylon has a 28% higher education rate. The unemployment rate in Babylon is 5.0%.


Population
211,207 people

County
Suffolk County

Renters

23.9% of Babylon households are renters.


Rent Burden

36.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Suffolk County 1
New York 2
National 2
Studio $1,445 $909 $737
1 bedroom $1,786 $990 $813
2 bedroom $2,190 $1,202 $1,015
3 bedroom $2,804 $1,537 $1,325
4 bedroom $3,116 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Babylon Demographics


Median Individual Income
$37,177 / year

Median Household Income
$94,011 / year

Families w/ Dual Incomes
63%

Unemployment Rate
5.0%
Household Income Distribution
Babylon, NY

Median Age
40 years

Avg Family Size
3.72 people
Age Distribution
Babylon, NY

College Education or Above
28%

STEM College Graduates
41%
Education Distribution
Babylon, NY
Source: U.S. Census Bureau

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