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Multifamily Loans in
Hempstead, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Hempstead, NY

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

All major multifamily lender types are lending in Hempstead.


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


Hempstead Market

The city of Hempstead in Nassau County has a population of 767,417. The median rent in Nassau County for a 2 bedroom is $2,190. The median Hempstead resident is 40 years old with a yearly income of $42,977. The average family has 3.54 members and a median household income of $111,072. Hempstead has a 41% higher education rate. The unemployment rate in Hempstead is 4.2%.


Population
767,417 people

County
Nassau County

Renters

19.2% of Hempstead households are renters.


Rent Burden

37.6% 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

Hempstead Demographics


Median Individual Income
$42,977 / year

Median Household Income
$111,072 / year

Families w/ Dual Incomes
64%

Unemployment Rate
4.2%
Household Income Distribution
Hempstead, NY

Median Age
40 years

Avg Family Size
3.54 people
Age Distribution
Hempstead, NY

College Education or Above
41%

STEM College Graduates
41%
Education Distribution
Hempstead, NY
Source: U.S. Census Bureau

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