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Multifamily Loans in
City Of Orange, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in City Of Orange, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in City Of Orange 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 City Of Orange 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 City Of Orange, NJ

All major multifamily lender types are lending in City Of Orange.


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


City Of Orange Market

The city of City Of Orange in Essex County has a population of 30,484. The median rent in Essex County for a 2 bedroom is $1,776. The median City Of Orange resident is 35 years old with a yearly income of $25,795. The average family has 3.43 members and a median household income of $42,966. City Of Orange has a 20% higher education rate. The unemployment rate in City Of Orange is 8.3%.


Population
30,484 people

County
Essex County

Renters

79.6% of City Of Orange households are renters.


Rent Burden

38.6% 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

City Of Orange Demographics


Median Individual Income
$25,795 / year

Median Household Income
$42,966 / year

Families w/ Dual Incomes
44%

Unemployment Rate
8.3%
Household Income Distribution
City Of Orange, NJ

Median Age
35 years

Avg Family Size
3.43 people
Age Distribution
City Of Orange, NJ

College Education or Above
20%

STEM College Graduates
43%
Education Distribution
City Of Orange, NJ
Source: U.S. Census Bureau

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