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Multifamily Loans in
Hillsborough, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Hillsborough, NJ

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

All major multifamily lender types are lending in Hillsborough.


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


Hillsborough Market

The city of Hillsborough in Somerset County has a population of 39,542. The median rent in Somerset County for a 2 bedroom is $1,888. The median Hillsborough resident is 41 years old with a yearly income of $53,576. The average family has 3.31 members and a median household income of $129,284. Hillsborough has a 59% higher education rate. The unemployment rate in Hillsborough is 4.1%.


Population
39,542 people

County
Somerset County

Renters

15.1% of Hillsborough households are renters.


Rent Burden

29.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Somerset County 1
New Jersey 2
National 2
Studio $1,297 $1,166 $737
1 bedroom $1,477 $1,353 $813
2 bedroom $1,888 $1,671 $1,015
3 bedroom $2,356 $2,131 $1,325
4 bedroom $2,683 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hillsborough Demographics


Median Individual Income
$53,576 / year

Median Household Income
$129,284 / year

Families w/ Dual Incomes
70%

Unemployment Rate
4.1%
Household Income Distribution
Hillsborough, NJ

Median Age
41 years

Avg Family Size
3.31 people
Age Distribution
Hillsborough, NJ

College Education or Above
59%

STEM College Graduates
53%
Education Distribution
Hillsborough, NJ
Source: U.S. Census Bureau

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