East Patchogue is located in a strong market for 5+ unit multifamily loans. Multifamily loans in East Patchogue are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in East Patchogue are some of the lowest nationally. East Patchogue 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 East Patchogue.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in East Patchogue 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 East Patchogue.
The city of East Patchogue in Suffolk County has a population of 22,172. The median rent in Suffolk County for a 2 bedroom is $2,190. The median East Patchogue resident is 43 years old with a yearly income of $39,011. The average family has 3.37 members and a median household income of $81,890. East Patchogue has a 26% higher education rate. The unemployment rate in East Patchogue is 5.4%.
34.3% of East Patchogue households are renters.
36.9% 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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