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Multifamily Loans in
Savannah, GA

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Savannah, GA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Savannah 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Savannah 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 04, 2021


Multifamily Lenders in Savannah, GA

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


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 04, 2021


Savannah Market

The city of Savannah in Chatham County has a population of 144,464. The median rent in Chatham County for a 2 bedroom is $1,135. The median Savannah resident is 33 years old with a yearly income of $22,934. The average family has 3.3 members and a median household income of $43,307. Savannah has a 28% higher education rate. The unemployment rate in Savannah is 8.6%.


Population
144,464 people

County
Chatham County

Renters

56.2% of Savannah households are renters.


Rent Burden

38.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Chatham County 1
Georgia 2
National 2
Studio $948 $670 $737
1 bedroom $996 $698 $813
2 bedroom $1,135 $840 $1,015
3 bedroom $1,559 $1,103 $1,325
4 bedroom $1,806 $1,302 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Savannah Demographics


Median Individual Income
$22,934 / year

Median Household Income
$43,307 / year

Families w/ Dual Incomes
48%

Unemployment Rate
8.6%
Household Income Distribution
Savannah, GA

Median Age
33 years

Avg Family Size
3.3 people
Age Distribution
Savannah, GA

College Education or Above
28%

STEM College Graduates
38%
Education Distribution
Savannah, GA
Source: U.S. Census Bureau

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