Mount Vernon is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Mount Vernon are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Mount Vernon are some of the lowest nationally. Mount Vernon 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 Mount Vernon.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mount Vernon 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 Mount Vernon.
The city of Mount Vernon in Westchester County has a population of 67,345. The median rent in Westchester County for a 2 bedroom is $2,116. The median Mount Vernon resident is 40 years old with a yearly income of $33,794. The average family has 3.49 members and a median household income of $59,907. Mount Vernon has a 29% higher education rate. The unemployment rate in Mount Vernon is 6.6%.
62.2% of Mount Vernon households are renters.
38.4% median household income spent on rent.
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 |
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