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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cortlandt are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.38% - 7.12% |
| 7 Year Fixed | 6.40% - 6.91% |
| 10 Year Fixed | 6.45% - 6.85% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.32% - 6.56% |
| 7 Year Fixed | 6.43% - 6.67% |
| 10 Year Fixed | 6.39% - 6.63% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.18% - 6.92% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.25% - 6.65% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Cortlandt.
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%.
24% of Cortlandt households are renters.
29.4% median household income spent on rent.
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 |
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