Bridgeton is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Bridgeton are considered greater risk due to market dynamics. Interest rates for multifamily loans in Bridgeton are higher than the national average. Bridgeton 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 Bridgeton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bridgeton are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.93% - 7.17% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Bridgeton.
The city of Bridgeton in Cumberland County has a population of 24,160. The median rent in Cumberland County for a 2 bedroom is $1,439. The median Bridgeton resident is 31 years old with a yearly income of $17,501. The average family has 3.99 members and a median household income of $37,804. Bridgeton has a 6% higher education rate. The unemployment rate in Bridgeton is 6.9%.
61.9% of Bridgeton households are renters.
48.1% median household income spent on rent.
Bedrooms |
Cumberland County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $988 | $1,166 | $737 |
| 1 bedroom | $1,103 | $1,353 | $813 |
| 2 bedroom | $1,439 | $1,671 | $1,015 |
| 3 bedroom | $1,910 | $2,131 | $1,325 |
| 4 bedroom | $2,219 | $2,445 | $1,521 |
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