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Multifamily Loans in
Kingston, NY

Overview

Kingston is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Kingston are considered greater risk due to market dynamics. Interest rates for multifamily loans in Kingston are higher than the national average. Kingston 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 Kingston.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Kingston, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kingston 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.78% - 4.02%
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 3.16% - 3.41%
7 Year Fixed 3.40% - 3.85%
10 Year Fixed 3.38% - 3.78%
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 Kingston 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 Kingston, NY

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


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 Nov 29, 2021


Kingston Market

The city of Kingston in Ulster County has a population of 22,793. The median rent in Ulster County for a 2 bedroom is $1,374. The median Kingston resident is 37 years old with a yearly income of $27,388. The average family has 3.27 members and a median household income of $51,299. Kingston has a 27% higher education rate. The unemployment rate in Kingston is 6.8%.


Population
22,793 people

County
Ulster County

Renters

54.6% of Kingston households are renters.


Rent Burden

35.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Ulster County 1
New York 2
National 2
Studio $912 $909 $737
1 bedroom $1,081 $990 $813
2 bedroom $1,374 $1,202 $1,015
3 bedroom $1,786 $1,537 $1,325
4 bedroom $2,020 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Kingston Demographics


Median Individual Income
$27,388 / year

Median Household Income
$51,299 / year

Families w/ Dual Incomes
52%

Unemployment Rate
6.8%
Household Income Distribution
Kingston, NY

Median Age
37 years

Avg Family Size
3.27 people
Age Distribution
Kingston, NY

College Education or Above
27%

STEM College Graduates
37%
Education Distribution
Kingston, NY
Source: U.S. Census Bureau

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