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Multifamily Loans in
Centereach, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Centereach, NY

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

All major multifamily lender types are lending in Centereach.


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


Centereach Market

The city of Centereach in Suffolk County has a population of 31,493. The median rent in Suffolk County for a 2 bedroom is $2,190. The median Centereach resident is 38 years old with a yearly income of $42,170. The average family has 3.69 members and a median household income of $107,184. Centereach has a 30% higher education rate. The unemployment rate in Centereach is 5.4%.


Population
31,493 people

County
Suffolk County

Renters

15.9% of Centereach households are renters.


Rent Burden

45% 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

Centereach Demographics


Median Individual Income
$42,170 / year

Median Household Income
$107,184 / year

Families w/ Dual Incomes
66%

Unemployment Rate
5.4%
Household Income Distribution
Centereach, NY

Median Age
38 years

Avg Family Size
3.69 people
Age Distribution
Centereach, NY

College Education or Above
30%

STEM College Graduates
50%
Education Distribution
Centereach, NY
Source: U.S. Census Bureau

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