Loading...

Multifamily Loans in
Egg Harbor, NJ

Overview

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.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Egg Harbor, NJ

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 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.10% - 3.35%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.30% - 3.70%
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 Egg Harbor 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 Egg Harbor, NJ

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Egg Harbor.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 02, 2021


Egg Harbor Market

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%.


Population
42,714 people

County
Atlantic County

Renters

13.2% of Egg Harbor households are renters.


Rent Burden

28.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Egg Harbor Demographics


Median Individual Income
$33,815 / year

Median Household Income
$82,117 / year

Families w/ Dual Incomes
61%

Unemployment Rate
6.7%
Household Income Distribution
Egg Harbor, NJ

Median Age
39 years

Avg Family Size
3.45 people
Age Distribution
Egg Harbor, NJ

College Education or Above
32%

STEM College Graduates
49%
Education Distribution
Egg Harbor, NJ
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day