Clifton is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Clifton are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Clifton are some of the lowest nationally. Clifton 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 Clifton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Clifton are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.74% - 7.48% |
| 7 Year Fixed | 6.70% - 7.21% |
| 10 Year Fixed | 6.71% - 7.11% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.97% - 7.21% |
| 7 Year Fixed | 6.93% - 7.17% |
| 10 Year Fixed | 6.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.54% - 7.28% |
| 7 Year Fixed | 6.50% - 7.01% |
| 10 Year Fixed | 6.51% - 6.91% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Clifton.
The city of Clifton in Passaic County has a population of 85,052. The median rent in Passaic County for a 2 bedroom is $1,892. The median Clifton resident is 40 years old with a yearly income of $33,202. The average family has 3.47 members and a median household income of $76,646. Clifton has a 33% higher education rate. The unemployment rate in Clifton is 4.0%.
42% of Clifton households are renters.
34.1% median household income spent on rent.
Bedrooms |
Passaic 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 |
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