North Hempstead is located in a strong market for 5+ unit multifamily loans. Multifamily loans in North Hempstead are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in North Hempstead are some of the lowest nationally. North Hempstead 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 Hempstead.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Hempstead are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.74% - 7.48% |
| 7 Year Fixed | 6.70% - 7.21% |
| 10 Year Fixed | 6.71% - 7.11% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.97% - 7.21% |
| 7 Year Fixed | 6.93% - 7.17% |
| 10 Year Fixed | 6.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.54% - 7.28% |
| 7 Year Fixed | 6.50% - 7.01% |
| 10 Year Fixed | 6.51% - 6.91% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in North Hempstead.
The city of North Hempstead in Nassau County has a population of 230,531. The median rent in Nassau County for a 2 bedroom is $2,190. The median North Hempstead resident is 43 years old with a yearly income of $51,194. The average family has 3.41 members and a median household income of $125,364. North Hempstead has a 56% higher education rate. The unemployment rate in North Hempstead is 3.6%.
21.8% of North Hempstead households are renters.
32.1% median household income spent on rent.
Bedrooms |
Nassau 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 |
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