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Multifamily Loans in
North Bay Shore, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in North Bay Shore, NY

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

All major multifamily lender types are lending in North Bay Shore.


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


North Bay Shore Market

The city of North Bay Shore in Suffolk County has a population of 21,679. The median rent in Suffolk County for a 2 bedroom is $2,190. The median North Bay Shore resident is 31 years old with a yearly income of $30,025. The average family has 5.04 members and a median household income of $89,275. North Bay Shore has a 14% higher education rate. The unemployment rate in North Bay Shore is 8.6%.


Population
21,679 people

County
Suffolk County

Renters

23.2% of North Bay Shore households are renters.


Rent Burden

31.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Suffolk County 1
New York 2
National 2
Studio $1,445 $909 $737
1 bedroom $1,786 $990 $813
2 bedroom $2,190 $1,202 $1,015
3 bedroom $2,804 $1,537 $1,325
4 bedroom $3,116 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

North Bay Shore Demographics


Median Individual Income
$30,025 / year

Median Household Income
$89,275 / year

Families w/ Dual Incomes
72%

Unemployment Rate
8.6%
Household Income Distribution
North Bay Shore, NY

Median Age
31 years

Avg Family Size
5.04 people
Age Distribution
North Bay Shore, NY

College Education or Above
14%

STEM College Graduates
42%
Education Distribution
North Bay Shore, NY
Source: U.S. Census Bureau

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