New York Multifamily (5+ Units) provide business-purpose real estate investors with Up to 75%–80% LTV Purchase / 70%–75% Cash-Out across loan amounts from $100,000 – $15,000,000+ at 6.50% – 8.50% (Perm) / 8.99%+ (Value-Add Bridge) (30-Yr Fixed, 5/1 & 7/1 ARM, 10-Yr IO, 24-Mo Bridge, 660+ FICO min FICO, 21 – 30 Business Days close). In New York (NY), lenders underwrite to a Judicial (RPAPL Article 13) statutory framework (240–360 days-day average timeline), a 1.64% average property tax rate (~$745/mo at the $545,000 state median), and $580/$100K hazard insurance (~$263/mo).
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