Loading...

Multifamily Loans in
New York, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in New York, NY

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

All major multifamily lender types are lending in New York.


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 York Market

The city of New York in New York County has a population of 8,336,820. The median rent in New York County for a 2 bedroom is $2,263. The median New York resident is 37 years old with a yearly income of $32,320. The average family has 3.37 members and a median household income of $63,998. New York has a 38% higher education rate. The unemployment rate in New York is 6.3%.


Population
8,336,820 people

County
New York County

Renters

67.3% of New York households are renters.


Rent Burden

34.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
New York 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

New York Demographics


Median Individual Income
$32,320 / year

Median Household Income
$63,998 / year

Families w/ Dual Incomes
53%

Unemployment Rate
6.3%
Household Income Distribution
New York, NY

Median Age
37 years

Avg Family Size
3.37 people
Age Distribution
New York, NY

College Education or Above
38%

STEM College Graduates
43%
Education Distribution
New York, NY
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day