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Multifamily Loans in
Queensbury, NY

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Queensbury, NY

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

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


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


Queensbury Market

The city of Queensbury in Warren County has a population of 27,456. The median rent in Warren County for a 2 bedroom is $1,062. The median Queensbury resident is 47 years old with a yearly income of $37,031. The average family has 2.86 members and a median household income of $73,723. Queensbury has a 35% higher education rate. The unemployment rate in Queensbury is 2.6%.


Population
27,456 people

County
Warren County

Renters

26.1% of Queensbury households are renters.


Rent Burden

30% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Warren County 1
New York 2
National 2
Studio $715 $909 $737
1 bedroom $839 $990 $813
2 bedroom $1,062 $1,202 $1,015
3 bedroom $1,386 $1,537 $1,325
4 bedroom $1,458 $1,692 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Queensbury Demographics


Median Individual Income
$37,031 / year

Median Household Income
$73,723 / year

Families w/ Dual Incomes
54%

Unemployment Rate
2.6%
Household Income Distribution
Queensbury, NY

Median Age
47 years

Avg Family Size
2.86 people
Age Distribution
Queensbury, NY

College Education or Above
35%

STEM College Graduates
44%
Education Distribution
Queensbury, NY
Source: U.S. Census Bureau

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