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Multifamily Loans in
Monsey, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Monsey, NY

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

All major multifamily lender types are lending in Monsey.


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


Monsey Market

The city of Monsey in Rockland County has a population of 23,055. The median rent in Rockland County for a 2 bedroom is $2,263. The median Monsey resident is 16 years old with a yearly income of $20,042. The average family has 5.81 members and a median household income of $45,399. Monsey has a 12% higher education rate. The unemployment rate in Monsey is 7.4%.


Population
23,055 people

County
Rockland County

Renters

64.2% of Monsey households are renters.


Rent Burden

53.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Rockland County 1
New York 2
National 2
Studio $1,940 $909 $737
1 bedroom $1,985 $990 $813
2 bedroom $2,263 $1,202 $1,015
3 bedroom $2,864 $1,537 $1,325
4 bedroom $3,069 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Monsey Demographics


Median Individual Income
$20,042 / year

Median Household Income
$45,399 / year

Families w/ Dual Incomes
40%

Unemployment Rate
7.4%
Household Income Distribution
Monsey, NY

Median Age
16 years

Avg Family Size
5.81 people
Age Distribution
Monsey, NY

College Education or Above
12%

STEM College Graduates
34%
Education Distribution
Monsey, NY
Source: U.S. Census Bureau

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