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Multifamily Loans in
Albany, GA

Overview

Albany is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Albany are considered greater risk due to market dynamics. Interest rates for multifamily loans in Albany are higher than the national average. Albany apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Albany.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Albany, GA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Albany are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Albany may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Lenders in Albany, GA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Albany.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Albany Market

The city of Albany in Dougherty County has a population of 72,130. The median rent in Dougherty County for a 2 bedroom is $814. The median Albany resident is 34 years old with a yearly income of $20,954. The average family has 3.22 members and a median household income of $36,615. Albany has a 20% higher education rate. The unemployment rate in Albany is 13.7%.


Population
72,130 people

County
Dougherty County

Renters

59.6% of Albany households are renters.


Rent Burden

33% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Dougherty County 1
Georgia 2
National 2
Studio $668 $670 $737
1 bedroom $690 $698 $813
2 bedroom $814 $840 $1,015
3 bedroom $1,054 $1,103 $1,325
4 bedroom $1,215 $1,302 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Albany Demographics


Median Individual Income
$20,954 / year

Median Household Income
$36,615 / year

Families w/ Dual Incomes
35%

Unemployment Rate
13.7%
Household Income Distribution
Albany, GA

Median Age
34 years

Avg Family Size
3.22 people
Age Distribution
Albany, GA

College Education or Above
20%

STEM College Graduates
36%
Education Distribution
Albany, GA
Source: U.S. Census Bureau

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