Saginaw is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Saginaw are considered greater risk due to market dynamics. Interest rates for multifamily loans in Saginaw are higher than the national average. Saginaw apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Saginaw.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Saginaw 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 $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.23% - 5.47% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Saginaw.
The city of Saginaw in Saginaw County has a population of 48,115. The median rent in Saginaw County for a 2 bedroom is $878. The median Saginaw resident is 35 years old with a yearly income of $18,153. The average family has 3.16 members and a median household income of $29,582. Saginaw has a 11% higher education rate. The unemployment rate in Saginaw is 13.7%.
43.8% of Saginaw households are renters.
45.7% median household income spent on rent.
Bedrooms |
Saginaw County 1 |
Michigan 2 |
National 2 |
|---|---|---|---|
| Studio | $579 | $607 | $737 |
| 1 bedroom | $671 | $678 | $813 |
| 2 bedroom | $878 | $855 | $1,015 |
| 3 bedroom | $1,094 | $1,118 | $1,325 |
| 4 bedroom | $1,209 | $1,238 | $1,521 |
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