Saratoga Springs is located in a good market for 5+ unit multifamily loans. Multifamily loans in Saratoga Springs are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Saratoga Springs are competitive. Saratoga Springs 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 Saratoga Springs.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Saratoga Springs are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.18% - 6.42% |
| 10 Year Fixed | 6.19% - 6.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Saratoga Springs.
The city of Saratoga Springs in Saratoga County has a population of 28,212. The median rent in Saratoga County for a 2 bedroom is $1,205. The median Saratoga Springs resident is 40 years old with a yearly income of $43,207. The average family has 2.64 members and a median household income of $82,816. Saratoga Springs has a 58% higher education rate. The unemployment rate in Saratoga Springs is 4.1%.
44.3% of Saratoga Springs households are renters.
27.3% median household income spent on rent.
Bedrooms |
Saratoga 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 |
We're here to help.