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Multifamily Loans in
Ramapo, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Ramapo, NY

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

All major multifamily lender types are lending in Ramapo.


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


Ramapo Market

The city of Ramapo in Rockland County has a population of 135,560. The median rent in Rockland County for a 2 bedroom is $2,263. The median Ramapo resident is 27 years old with a yearly income of $31,393. The average family has 4.33 members and a median household income of $69,655. Ramapo has a 32% higher education rate. The unemployment rate in Ramapo is 6.1%.


Population
135,560 people

County
Rockland County

Renters

44.6% of Ramapo households are renters.


Rent Burden

47.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Rockland 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

Ramapo Demographics


Median Individual Income
$31,393 / year

Median Household Income
$69,655 / year

Families w/ Dual Incomes
54%

Unemployment Rate
6.1%
Household Income Distribution
Ramapo, NY

Median Age
27 years

Avg Family Size
4.33 people
Age Distribution
Ramapo, NY

College Education or Above
32%

STEM College Graduates
45%
Education Distribution
Ramapo, NY
Source: U.S. Census Bureau

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