Saratoga is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Saratoga are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Saratoga are some of the lowest nationally. Saratoga 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 Saratoga.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Saratoga are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Saratoga.
The city of Saratoga in Santa Clara County has a population of 30,153. The median rent in Santa Clara County for a 2 bedroom is $3,223. The median Saratoga resident is 50 years old with a yearly income of $81,293. The average family has 3.04 members and a median household income of $191,677. Saratoga has a 78% higher education rate. The unemployment rate in Saratoga is 3.7%.
15.4% of Saratoga households are renters.
22.9% median household income spent on rent.
Bedrooms |
Santa Clara County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $2,354 | $1,137 | $737 |
| 1 bedroom | $2,702 | $1,291 | $813 |
| 2 bedroom | $3,223 | $1,635 | $1,015 |
| 3 bedroom | $4,209 | $2,254 | $1,325 |
| 4 bedroom | $4,852 | $2,613 | $1,521 |
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