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Multifamily Loans in
Saratoga Springs, UT

Overview

Saratoga Springs is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Saratoga Springs are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Saratoga Springs are slightly higher than the national average. Saratoga Springs apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Saratoga Springs.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Saratoga Springs, UT

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 $6M
5 Year Fixed 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
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 3.10% - 3.35%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. 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 Dec 02, 2021


Multifamily Lenders in Saratoga Springs, UT

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


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 02, 2021


Saratoga Springs Market

The city of Saratoga Springs in Utah County has a population of 33,282. The median rent in Utah County for a 2 bedroom is $996. The median Saratoga Springs resident is 23 years old with a yearly income of $43,618. The average family has 4.41 members and a median household income of $102,531. Saratoga Springs has a 48% higher education rate. The unemployment rate in Saratoga Springs is 3.4%.


Population
33,282 people

County
Utah County

Renters

17.2% of Saratoga Springs households are renters.


Rent Burden

23.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Utah County 1
Utah 2
National 2
Studio $819 $659 $737
1 bedroom $874 $743 $813
2 bedroom $996 $922 $1,015
3 bedroom $1,425 $1,250 $1,325
4 bedroom $1,724 $1,497 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Saratoga Springs Demographics


Median Individual Income
$43,618 / year

Median Household Income
$102,531 / year

Families w/ Dual Incomes
58%

Unemployment Rate
3.4%
Household Income Distribution
Saratoga Springs, UT

Median Age
23 years

Avg Family Size
4.41 people
Age Distribution
Saratoga Springs, UT

College Education or Above
48%

STEM College Graduates
40%
Education Distribution
Saratoga Springs, UT
Source: U.S. Census Bureau

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