New Rochelle is located in a strong market for 5+ unit multifamily loans. Multifamily loans in New Rochelle are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in New Rochelle are some of the lowest nationally. New Rochelle 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 New Rochelle.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in New Rochelle are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.38% - 7.12% |
| 7 Year Fixed | 6.40% - 6.91% |
| 10 Year Fixed | 6.45% - 6.85% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.32% - 6.56% |
| 7 Year Fixed | 6.43% - 6.67% |
| 10 Year Fixed | 6.39% - 6.63% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.18% - 6.92% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.25% - 6.65% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in New Rochelle.
The city of New Rochelle in Westchester County has a population of 78,557. The median rent in Westchester County for a 2 bedroom is $2,116. The median New Rochelle resident is 40 years old with a yearly income of $36,004. The average family has 3.33 members and a median household income of $81,311. New Rochelle has a 45% higher education rate. The unemployment rate in New Rochelle is 6.1%.
48.9% of New Rochelle households are renters.
37.3% median household income spent on rent.
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 |
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