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.
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 | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.18% - 6.42% |
| 10 Year Fixed | 6.19% - 6.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Cherry Hill.
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%.
21.9% of Cherry Hill households are renters.
30.1% median household income spent on rent.
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 |
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