Wappinger is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Wappinger are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Wappinger are slightly higher than the national average. Wappinger apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Wappinger.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wappinger are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.63% - 5.87% |
| 7 Year Fixed | 5.34% - 5.58% |
| 10 Year Fixed | 5.28% - 5.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Wappinger.
The city of Wappinger in Dutchess County has a population of 26,660. The median rent in Dutchess County for a 2 bedroom is $1,575. The median Wappinger resident is 41 years old with a yearly income of $38,041. The average family has 3.06 members and a median household income of $82,428. Wappinger has a 32% higher education rate. The unemployment rate in Wappinger is 4.2%.
33.5% of Wappinger households are renters.
32.8% median household income spent on rent.
Bedrooms |
Dutchess County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $1,169 | $909 | $737 |
| 1 bedroom | $1,246 | $990 | $813 |
| 2 bedroom | $1,575 | $1,202 | $1,015 |
| 3 bedroom | $2,005 | $1,537 | $1,325 |
| 4 bedroom | $2,251 | $1,692 | $1,521 |
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