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Multifamily Loans in
Saratoga Springs, NY

Overview

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.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Saratoga Springs, NY

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 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 Saratoga Springs 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 Saratoga Springs, NY

All major multifamily lender types are lending in Saratoga Springs.


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


Saratoga Springs Market

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%.


Population
28,212 people

County
Saratoga County

Renters

44.3% of Saratoga Springs households are renters.


Rent Burden

27.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Saratoga Springs Demographics


Median Individual Income
$43,207 / year

Median Household Income
$82,816 / year

Families w/ Dual Incomes
54%

Unemployment Rate
4.1%
Household Income Distribution
Saratoga Springs, NY

Median Age
40 years

Avg Family Size
2.64 people
Age Distribution
Saratoga Springs, NY

College Education or Above
58%

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

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