Colonie is located in a good market for 5+ unit multifamily loans. Multifamily loans in Colonie are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Colonie are competitive. Colonie 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 Colonie.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Colonie are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.44% - 5.68% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Colonie.
The city of Colonie in Albany County has a population of 82,849. The median rent in Albany County for a 2 bedroom is $1,205. The median Colonie resident is 40 years old with a yearly income of $40,061. The average family has 3.07 members and a median household income of $80,921. Colonie has a 42% higher education rate. The unemployment rate in Colonie is 3.1%.
31.4% of Colonie households are renters.
25.4% median household income spent on rent.
Bedrooms |
Albany 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 |
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