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Multifamily Loans in
Saginaw, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Saginaw, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Saginaw 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 3.68% - 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 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Saginaw 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 05, 2021


Multifamily Lenders in Saginaw, MI

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


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 05, 2021


Saginaw Market

The city of Saginaw in Saginaw County has a population of 48,115. The median rent in Saginaw County for a 2 bedroom is $878. The median Saginaw resident is 35 years old with a yearly income of $18,153. The average family has 3.16 members and a median household income of $29,582. Saginaw has a 11% higher education rate. The unemployment rate in Saginaw is 13.7%.


Population
48,115 people

County
Saginaw County

Renters

43.8% of Saginaw households are renters.


Rent Burden

45.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Saginaw County 1
Michigan 2
National 2
Studio $579 $607 $737
1 bedroom $671 $678 $813
2 bedroom $878 $855 $1,015
3 bedroom $1,094 $1,118 $1,325
4 bedroom $1,209 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Saginaw Demographics


Median Individual Income
$18,153 / year

Median Household Income
$29,582 / year

Families w/ Dual Incomes
32%

Unemployment Rate
13.7%
Household Income Distribution
Saginaw, MI

Median Age
35 years

Avg Family Size
3.16 people
Age Distribution
Saginaw, MI

College Education or Above
11%

STEM College Graduates
36%
Education Distribution
Saginaw, MI
Source: U.S. Census Bureau

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