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Multifamily Loans in
East Patchogue, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in East Patchogue, NY

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

All major multifamily lender types are lending in East Patchogue.


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


East Patchogue Market

The city of East Patchogue in Suffolk County has a population of 22,172. The median rent in Suffolk County for a 2 bedroom is $2,190. The median East Patchogue resident is 43 years old with a yearly income of $39,011. The average family has 3.37 members and a median household income of $81,890. East Patchogue has a 26% higher education rate. The unemployment rate in East Patchogue is 5.4%.


Population
22,172 people

County
Suffolk County

Renters

34.3% of East Patchogue households are renters.


Rent Burden

36.9% 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

East Patchogue Demographics


Median Individual Income
$39,011 / year

Median Household Income
$81,890 / year

Families w/ Dual Incomes
60%

Unemployment Rate
5.4%
Household Income Distribution
East Patchogue, NY

Median Age
43 years

Avg Family Size
3.37 people
Age Distribution
East Patchogue, NY

College Education or Above
26%

STEM College Graduates
36%
Education Distribution
East Patchogue, NY
Source: U.S. Census Bureau

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