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Multifamily Loans in
Newburgh, NY

Overview

Newburgh is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Newburgh are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Newburgh are slightly higher than the national average. Newburgh apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Newburgh.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Newburgh, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Newburgh are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.11% - 3.36%
7 Year Fixed 3.35% - 3.80%
10 Year Fixed 3.33% - 3.73%
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 Newburgh 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 Newburgh, NY

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Newburgh.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Nov 29, 2021


Newburgh Market

The city of Newburgh in Orange County has a population of 30,905. The median rent in Orange County for a 2 bedroom is $1,575. The median Newburgh resident is 42 years old with a yearly income of $39,639. The average family has 3.21 members and a median household income of $91,596. Newburgh has a 32% higher education rate. The unemployment rate in Newburgh is 4.7%.


Population
30,905 people

County
Orange County

Renters

18.8% of Newburgh households are renters.


Rent Burden

32.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Orange County 1
New York 2
National 2
Studio $1,169 $909 $737
1 bedroom $1,246 $990 $813
2 bedroom $1,575 $1,202 $1,015
3 bedroom $2,005 $1,537 $1,325
4 bedroom $2,251 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Newburgh Demographics


Median Individual Income
$39,639 / year

Median Household Income
$91,596 / year

Families w/ Dual Incomes
59%

Unemployment Rate
4.7%
Household Income Distribution
Newburgh, NY

Median Age
42 years

Avg Family Size
3.21 people
Age Distribution
Newburgh, NY

College Education or Above
32%

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

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