Central Islip is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Central Islip are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Central Islip are some of the lowest nationally. Central Islip 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 Central Islip.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Central Islip are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.42% - 5.66% |
| 7 Year Fixed | 5.48% - 5.72% |
| 10 Year Fixed | 5.34% - 5.58% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Central Islip.
The city of Central Islip in Suffolk County has a population of 31,205. The median rent in Suffolk County for a 2 bedroom is $2,190. The median Central Islip resident is 36 years old with a yearly income of $30,853. The average family has 4.04 members and a median household income of $74,458. Central Islip has a 18% higher education rate. The unemployment rate in Central Islip is 3.5%.
31.3% of Central Islip households are renters.
49.8% median household income spent on rent.
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 |
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