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Multifamily Loans in
Long Beach, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Long Beach, NY

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

All major multifamily lender types are lending in Long Beach.


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


Long Beach Market

The city of Long Beach in Nassau County has a population of 33,454. The median rent in Nassau County for a 2 bedroom is $2,190. The median Long Beach resident is 45 years old with a yearly income of $46,268. The average family has 3.09 members and a median household income of $97,022. Long Beach has a 49% higher education rate. The unemployment rate in Long Beach is 4.4%.


Population
33,454 people

County
Nassau County

Renters

42.5% of Long Beach households are renters.


Rent Burden

31.3% 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

Long Beach Demographics


Median Individual Income
$46,268 / year

Median Household Income
$97,022 / year

Families w/ Dual Incomes
59%

Unemployment Rate
4.4%
Household Income Distribution
Long Beach, NY

Median Age
45 years

Avg Family Size
3.09 people
Age Distribution
Long Beach, NY

College Education or Above
49%

STEM College Graduates
38%
Education Distribution
Long Beach, NY
Source: U.S. Census Bureau

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