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Multifamily Loans in
New Rochelle, NY

Overview

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.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in New Rochelle, NY

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 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 New Rochelle 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 New Rochelle, NY

All major multifamily lender types are lending in New Rochelle.


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


New Rochelle Market

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%.


Population
78,557 people

County
Westchester County

Renters

48.9% of New Rochelle households are renters.


Rent Burden

37.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

New Rochelle Demographics


Median Individual Income
$36,004 / year

Median Household Income
$81,311 / year

Families w/ Dual Incomes
60%

Unemployment Rate
6.1%
Household Income Distribution
New Rochelle, NY

Median Age
40 years

Avg Family Size
3.33 people
Age Distribution
New Rochelle, NY

College Education or Above
45%

STEM College Graduates
44%
Education Distribution
New Rochelle, NY
Source: U.S. Census Bureau

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