Loading...

Multifamily Loans in
Belleville, NJ

Overview

Belleville is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Belleville are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Belleville are some of the lowest nationally. Belleville 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 Belleville.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Belleville, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Belleville are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.00% - 3.25%
7 Year Fixed 3.20% - 3.65%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Belleville 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 02, 2021


Multifamily Lenders in Belleville, NJ

All major multifamily lender types are lending in Belleville.


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 Dec 02, 2021


Belleville Market

The city of Belleville in Essex County has a population of 36,181. The median rent in Essex County for a 2 bedroom is $1,776. The median Belleville resident is 39 years old with a yearly income of $35,744. The average family has 3.59 members and a median household income of $70,311. Belleville has a 26% higher education rate. The unemployment rate in Belleville is 6.4%.


Population
36,181 people

County
Essex County

Renters

48.6% of Belleville households are renters.


Rent Burden

32.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Essex County 1
New Jersey 2
National 2
Studio $1,221 $1,166 $737
1 bedroom $1,468 $1,353 $813
2 bedroom $1,776 $1,671 $1,015
3 bedroom $2,265 $2,131 $1,325
4 bedroom $2,700 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Belleville Demographics


Median Individual Income
$35,744 / year

Median Household Income
$70,311 / year

Families w/ Dual Incomes
59%

Unemployment Rate
6.4%
Household Income Distribution
Belleville, NJ

Median Age
39 years

Avg Family Size
3.59 people
Age Distribution
Belleville, NJ

College Education or Above
26%

STEM College Graduates
51%
Education Distribution
Belleville, NJ
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day