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Multifamily Loans in
Cortlandt, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Cortlandt, NY

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

All major multifamily lender types are lending in Cortlandt.


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


Cortlandt Market

The city of Cortlandt in Westchester County has a population of 42,426. The median rent in Westchester County for a 2 bedroom is $2,116. The median Cortlandt resident is 44 years old with a yearly income of $47,598. The average family has 3.27 members and a median household income of $115,572. Cortlandt has a 49% higher education rate. The unemployment rate in Cortlandt is 4.5%.


Population
42,426 people

County
Westchester County

Renters

24% of Cortlandt households are renters.


Rent Burden

29.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Westchester County 1
New York 2
National 2
Studio $1,509 $909 $737
1 bedroom $1,763 $990 $813
2 bedroom $2,116 $1,202 $1,015
3 bedroom $2,705 $1,537 $1,325
4 bedroom $3,074 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cortlandt Demographics


Median Individual Income
$47,598 / year

Median Household Income
$115,572 / year

Families w/ Dual Incomes
66%

Unemployment Rate
4.5%
Household Income Distribution
Cortlandt, NY

Median Age
44 years

Avg Family Size
3.27 people
Age Distribution
Cortlandt, NY

College Education or Above
49%

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

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