Loading...

Multifamily Loans in
Albany, NY

Overview

Albany is located in a good market for 5+ unit multifamily loans. Multifamily loans in Albany are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Albany are competitive. Albany 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 Albany.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Albany, NY

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 $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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®
$7.5M to $100M
5 Year Fixed 3.06% - 3.31%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/28/2021. 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 Nov 29, 2021


Multifamily Lenders in Albany, NY

All major multifamily lender types are lending in Albany.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Nov 29, 2021


Albany Market

The city of Albany in Albany County has a population of 96,460. The median rent in Albany County for a 2 bedroom is $1,205. The median Albany resident is 31 years old with a yearly income of $25,436. The average family has 3.11 members and a median household income of $45,825. Albany has a 40% higher education rate. The unemployment rate in Albany is 7.0%.


Population
96,460 people

County
Albany County

Renters

62.5% of Albany households are renters.


Rent Burden

36.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Albany County 1
New York 2
National 2
Studio $873 $909 $737
1 bedroom $984 $990 $813
2 bedroom $1,205 $1,202 $1,015
3 bedroom $1,499 $1,537 $1,325
4 bedroom $1,634 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Albany Demographics


Median Individual Income
$25,436 / year

Median Household Income
$45,825 / year

Families w/ Dual Incomes
49%

Unemployment Rate
7.0%
Household Income Distribution
Albany, NY

Median Age
31 years

Avg Family Size
3.11 people
Age Distribution
Albany, NY

College Education or Above
40%

STEM College Graduates
51%
Education Distribution
Albany, NY
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day