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Multifamily Loans in
Cherry Hill, NJ

Overview

Cherry Hill is located in a good market for 5+ unit multifamily loans. Multifamily loans in Cherry Hill are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Cherry Hill are competitive. Cherry Hill 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 Cherry Hill.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Cherry Hill, NJ

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

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
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 Cherry Hill 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 Cherry Hill, NJ

All major multifamily lender types are lending in Cherry Hill.


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


Cherry Hill Market

The city of Cherry Hill in Camden County has a population of 70,965. The median rent in Camden County for a 2 bedroom is $1,358. The median Cherry Hill resident is 43 years old with a yearly income of $45,575. The average family has 3.16 members and a median household income of $105,022. Cherry Hill has a 55% higher education rate. The unemployment rate in Cherry Hill is 4.0%.


Population
70,965 people

County
Camden County

Renters

21.9% of Cherry Hill households are renters.


Rent Burden

30.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Camden County 1
New Jersey 2
National 2
Studio $970 $1,166 $737
1 bedroom $1,121 $1,353 $813
2 bedroom $1,358 $1,671 $1,015
3 bedroom $1,689 $2,131 $1,325
4 bedroom $1,935 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cherry Hill Demographics


Median Individual Income
$45,575 / year

Median Household Income
$105,022 / year

Families w/ Dual Incomes
64%

Unemployment Rate
4.0%
Household Income Distribution
Cherry Hill, NJ

Median Age
43 years

Avg Family Size
3.16 people
Age Distribution
Cherry Hill, NJ

College Education or Above
55%

STEM College Graduates
47%
Education Distribution
Cherry Hill, NJ
Source: U.S. Census Bureau

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