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Multifamily Loans in
Harrison, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Harrison, NY

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

All major multifamily lender types are lending in Harrison.


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


Harrison Market

The city of Harrison in Westchester County has a population of 28,943. The median rent in Westchester County for a 2 bedroom is $2,116. The median Harrison resident is 36 years old with a yearly income of $41,445. The average family has 3.38 members and a median household income of $123,030. Harrison has a 55% higher education rate. The unemployment rate in Harrison is 6.1%.


Population
28,943 people

County
Westchester County

Renters

33.4% of Harrison households are renters.


Rent Burden

27.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Westchester County 1
New York 2
National 2
Studio $1,509 $909 $737
1 bedroom $1,763 $990 $813
2 bedroom $2,116 $1,202 $1,015
3 bedroom $2,705 $1,537 $1,325
4 bedroom $3,074 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Harrison Demographics


Median Individual Income
$41,445 / year

Median Household Income
$123,030 / year

Families w/ Dual Incomes
53%

Unemployment Rate
6.1%
Household Income Distribution
Harrison, NY

Median Age
36 years

Avg Family Size
3.38 people
Age Distribution
Harrison, NY

College Education or Above
55%

STEM College Graduates
40%
Education Distribution
Harrison, NY
Source: U.S. Census Bureau

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