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.
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 | 6.74% - 7.48% |
| 7 Year Fixed | 6.70% - 7.21% |
| 10 Year Fixed | 6.71% - 7.11% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.97% - 7.21% |
| 7 Year Fixed | 6.93% - 7.17% |
| 10 Year Fixed | 6.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.54% - 7.28% |
| 7 Year Fixed | 6.50% - 7.01% |
| 10 Year Fixed | 6.51% - 6.91% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Franklin Square.
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%.
18% of Franklin Square households are renters.
30.8% median household income spent on rent.
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 |
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