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Multifamily Loans in
Colonie, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Colonie, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Colonie 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 Colonie 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 Colonie, NY

All major multifamily lender types are lending in Colonie.


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


Colonie Market

The city of Colonie in Albany County has a population of 82,849. The median rent in Albany County for a 2 bedroom is $1,205. The median Colonie resident is 40 years old with a yearly income of $40,061. The average family has 3.07 members and a median household income of $80,921. Colonie has a 42% higher education rate. The unemployment rate in Colonie is 3.1%.


Population
82,849 people

County
Albany County

Renters

31.4% of Colonie households are renters.


Rent Burden

25.4% 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

Colonie Demographics


Median Individual Income
$40,061 / year

Median Household Income
$80,921 / year

Families w/ Dual Incomes
58%

Unemployment Rate
3.1%
Household Income Distribution
Colonie, NY

Median Age
40 years

Avg Family Size
3.07 people
Age Distribution
Colonie, NY

College Education or Above
42%

STEM College Graduates
46%
Education Distribution
Colonie, NY
Source: U.S. Census Bureau

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