Lake Ronkonkoma is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Lake Ronkonkoma are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Lake Ronkonkoma are some of the lowest nationally. Lake Ronkonkoma 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 Lake Ronkonkoma.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lake Ronkonkoma 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 Lake Ronkonkoma.
The city of Lake Ronkonkoma in Suffolk County has a population of 20,667. The median rent in Suffolk County for a 2 bedroom is $2,190. The median Lake Ronkonkoma resident is 41 years old with a yearly income of $41,766. The average family has 3.58 members and a median household income of $95,080. Lake Ronkonkoma has a 26% higher education rate. The unemployment rate in Lake Ronkonkoma is 4.9%.
25.8% of Lake Ronkonkoma households are renters.
53.6% median household income spent on rent.
Bedrooms |
Suffolk 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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