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Multifamily Loans in
Glen Cove, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Glen Cove, NY

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

All major multifamily lender types are lending in Glen Cove.


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


Glen Cove Market

The city of Glen Cove in Nassau County has a population of 27,166. The median rent in Nassau County for a 2 bedroom is $2,190. The median Glen Cove resident is 41 years old with a yearly income of $32,548. The average family has 3.27 members and a median household income of $80,702. Glen Cove has a 38% higher education rate. The unemployment rate in Glen Cove is 2.2%.


Population
27,166 people

County
Nassau County

Renters

47.5% of Glen Cove households are renters.


Rent Burden

42.7% 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

Glen Cove Demographics


Median Individual Income
$32,548 / year

Median Household Income
$80,702 / year

Families w/ Dual Incomes
60%

Unemployment Rate
2.2%
Household Income Distribution
Glen Cove, NY

Median Age
41 years

Avg Family Size
3.27 people
Age Distribution
Glen Cove, NY

College Education or Above
38%

STEM College Graduates
43%
Education Distribution
Glen Cove, NY
Source: U.S. Census Bureau

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