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Multifamily Loans in
Franklin Square, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Franklin Square, NY

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

All major multifamily lender types are lending in Franklin Square.


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


Franklin Square Market

The city of Franklin Square in Nassau County has a population of 32,055. The median rent in Nassau County for a 2 bedroom is $2,190. The median Franklin Square resident is 41 years old with a yearly income of $40,641. The average family has 3.64 members and a median household income of $107,415. Franklin Square has a 34% higher education rate. The unemployment rate in Franklin Square is 4.1%.


Population
32,055 people

County
Nassau County

Renters

18% of Franklin Square households are renters.


Rent Burden

30.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Nassau 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

Franklin Square Demographics


Median Individual Income
$40,641 / year

Median Household Income
$107,415 / year

Families w/ Dual Incomes
67%

Unemployment Rate
4.1%
Household Income Distribution
Franklin Square, NY

Median Age
41 years

Avg Family Size
3.64 people
Age Distribution
Franklin Square, NY

College Education or Above
34%

STEM College Graduates
44%
Education Distribution
Franklin Square, NY
Source: U.S. Census Bureau

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