Warwick is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Warwick are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Warwick are slightly higher than the national average. Warwick 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 Warwick.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Warwick are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.28% - 7.52% |
| 7 Year Fixed | 6.89% - 7.13% |
| 10 Year Fixed | 6.88% - 7.12% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Warwick.
The city of Warwick in Orange County has a population of 31,217. The median rent in Orange County for a 2 bedroom is $1,575. The median Warwick resident is 46 years old with a yearly income of $42,470. The average family has 3.24 members and a median household income of $98,730. Warwick has a 38% higher education rate. The unemployment rate in Warwick is 3.7%.
23.8% of Warwick households are renters.
30.8% median household income spent on rent.
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 |
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