Westchester is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Westchester are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Westchester are some of the lowest nationally. Westchester 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 Westchester.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Westchester 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.22% - 5.46% |
| 7 Year Fixed | 5.28% - 5.52% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$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 Westchester.
The city of Westchester in Miami-Dade County has a population of 29,778. The median rent in Miami-Dade County for a 2 bedroom is $1,684. The median Westchester resident is 45 years old with a yearly income of $22,203. The average family has 3.73 members and a median household income of $55,716. Westchester has a 29% higher education rate. The unemployment rate in Westchester is 2.5%.
31.9% of Westchester households are renters.
51.6% median household income spent on rent.
Bedrooms |
Miami-Dade County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,148 | $822 | $737 |
| 1 bedroom | $1,336 | $891 | $813 |
| 2 bedroom | $1,684 | $1,089 | $1,015 |
| 3 bedroom | $2,245 | $1,448 | $1,325 |
| 4 bedroom | $2,696 | $1,716 | $1,521 |
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