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Multifamily Loans in
West Babylon, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in West Babylon, NY

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

All major multifamily lender types are lending in West Babylon.


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


West Babylon Market

The city of West Babylon in Suffolk County has a population of 42,665. The median rent in Suffolk County for a 2 bedroom is $2,190. The median West Babylon resident is 41 years old with a yearly income of $38,429. The average family has 3.67 members and a median household income of $100,470. West Babylon has a 28% higher education rate. The unemployment rate in West Babylon is 4.8%.


Population
42,665 people

County
Suffolk County

Renters

24.5% of West Babylon households are renters.


Rent Burden

33.2% 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

West Babylon Demographics


Median Individual Income
$38,429 / year

Median Household Income
$100,470 / year

Families w/ Dual Incomes
65%

Unemployment Rate
4.8%
Household Income Distribution
West Babylon, NY

Median Age
41 years

Avg Family Size
3.67 people
Age Distribution
West Babylon, NY

College Education or Above
28%

STEM College Graduates
41%
Education Distribution
West Babylon, NY
Source: U.S. Census Bureau

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