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Multifamily Loans in
Cliffside Park, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Cliffside Park, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cliffside Park 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 Cliffside Park 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 Cliffside Park, NJ

All major multifamily lender types are lending in Cliffside Park.


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


Cliffside Park Market

The city of Cliffside Park in Bergen County has a population of 26,133. The median rent in Bergen County for a 2 bedroom is $1,892. The median Cliffside Park resident is 43 years old with a yearly income of $40,131. The average family has 2.94 members and a median household income of $72,633. Cliffside Park has a 43% higher education rate. The unemployment rate in Cliffside Park is 3.2%.


Population
26,133 people

County
Bergen County

Renters

54.6% of Cliffside Park households are renters.


Rent Burden

35.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Bergen County 1
New Jersey 2
National 2
Studio $1,341 $1,166 $737
1 bedroom $1,608 $1,353 $813
2 bedroom $1,892 $1,671 $1,015
3 bedroom $2,353 $2,131 $1,325
4 bedroom $2,915 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cliffside Park Demographics


Median Individual Income
$40,131 / year

Median Household Income
$72,633 / year

Families w/ Dual Incomes
53%

Unemployment Rate
3.2%
Household Income Distribution
Cliffside Park, NJ

Median Age
43 years

Avg Family Size
2.94 people
Age Distribution
Cliffside Park, NJ

College Education or Above
43%

STEM College Graduates
43%
Education Distribution
Cliffside Park, NJ
Source: U.S. Census Bureau

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