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Multifamily Loans in
Yonkers, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Yonkers, NY

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

All major multifamily lender types are lending in Yonkers.


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


Yonkers Market

The city of Yonkers in Westchester County has a population of 200,370. The median rent in Westchester County for a 2 bedroom is $2,116. The median Yonkers resident is 39 years old with a yearly income of $33,002. The average family has 3.38 members and a median household income of $63,849. Yonkers has a 34% higher education rate. The unemployment rate in Yonkers is 6.6%.


Population
200,370 people

County
Westchester County

Renters

53.9% of Yonkers households are renters.


Rent Burden

39.2% 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

Yonkers Demographics


Median Individual Income
$33,002 / year

Median Household Income
$63,849 / year

Families w/ Dual Incomes
53%

Unemployment Rate
6.6%
Household Income Distribution
Yonkers, NY

Median Age
39 years

Avg Family Size
3.38 people
Age Distribution
Yonkers, NY

College Education or Above
34%

STEM College Graduates
46%
Education Distribution
Yonkers, NY
Source: U.S. Census Bureau

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