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Multifamily Loans in
Peekskill, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Peekskill, NY

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

All major multifamily lender types are lending in Peekskill.


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


Peekskill Market

The city of Peekskill in Westchester County has a population of 24,295. The median rent in Westchester County for a 2 bedroom is $2,116. The median Peekskill resident is 39 years old with a yearly income of $30,952. The average family has 3.31 members and a median household income of $57,206. Peekskill has a 30% higher education rate. The unemployment rate in Peekskill is 5.6%.


Population
24,295 people

County
Westchester County

Renters

54% of Peekskill households are renters.


Rent Burden

45.5% 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

Peekskill Demographics


Median Individual Income
$30,952 / year

Median Household Income
$57,206 / year

Families w/ Dual Incomes
56%

Unemployment Rate
5.6%
Household Income Distribution
Peekskill, NY

Median Age
39 years

Avg Family Size
3.31 people
Age Distribution
Peekskill, NY

College Education or Above
30%

STEM College Graduates
48%
Education Distribution
Peekskill, NY
Source: U.S. Census Bureau

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