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Multifamily Loans in
Troy, NY

Overview

Troy is located in a good market for 5+ unit multifamily loans. Multifamily loans in Troy are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Troy are competitive. Troy 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 Troy.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Troy, NY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Troy 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 Troy 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 Troy, NY

All major multifamily lender types are lending in Troy.


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


Troy Market

The city of Troy in Rensselaer County has a population of 49,154. The median rent in Rensselaer County for a 2 bedroom is $1,205. The median Troy resident is 31 years old with a yearly income of $25,178. The average family has 2.97 members and a median household income of $45,728. Troy has a 27% higher education rate. The unemployment rate in Troy is 6.8%.


Population
49,154 people

County
Rensselaer County

Renters

64.5% of Troy households are renters.


Rent Burden

34.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Rensselaer 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

Troy Demographics


Median Individual Income
$25,178 / year

Median Household Income
$45,728 / year

Families w/ Dual Incomes
47%

Unemployment Rate
6.8%
Household Income Distribution
Troy, NY

Median Age
31 years

Avg Family Size
2.97 people
Age Distribution
Troy, NY

College Education or Above
27%

STEM College Graduates
53%
Education Distribution
Troy, NY
Source: U.S. Census Bureau

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