Egg Harbor is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Egg Harbor are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Egg Harbor are slightly higher than the national average. Egg Harbor apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Egg Harbor.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Egg Harbor are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.28% - 7.52% |
| 7 Year Fixed | 6.89% - 7.13% |
| 10 Year Fixed | 6.88% - 7.12% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Egg Harbor.
The city of Egg Harbor in Atlantic County has a population of 42,714. The median rent in Atlantic County for a 2 bedroom is $1,509. The median Egg Harbor resident is 39 years old with a yearly income of $33,815. The average family has 3.45 members and a median household income of $82,117. Egg Harbor has a 32% higher education rate. The unemployment rate in Egg Harbor is 6.7%.
13.2% of Egg Harbor households are renters.
28.7% median household income spent on rent.
Bedrooms |
Atlantic County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,012 | $1,166 | $737 |
| 1 bedroom | $1,194 | $1,353 | $813 |
| 2 bedroom | $1,509 | $1,671 | $1,015 |
| 3 bedroom | $2,067 | $2,131 | $1,325 |
| 4 bedroom | $2,302 | $2,445 | $1,521 |
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