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.
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 | 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 Glen Cove.
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%.
47.5% of Glen Cove households are renters.
42.7% 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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