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Multifamily Loans in
Hillside, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Hillside, NJ

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

All major multifamily lender types are lending in Hillside.


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


Hillside Market

The city of Hillside in Union County has a population of 21,928. The median rent in Union County for a 2 bedroom is $1,776. The median Hillside resident is 37 years old with a yearly income of $34,881. The average family has 3.49 members and a median household income of $75,239. Hillside has a 26% higher education rate. The unemployment rate in Hillside is 9.1%.


Population
21,928 people

County
Union County

Renters

32.8% of Hillside households are renters.


Rent Burden

31.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Union County 1
New Jersey 2
National 2
Studio $1,221 $1,166 $737
1 bedroom $1,468 $1,353 $813
2 bedroom $1,776 $1,671 $1,015
3 bedroom $2,265 $2,131 $1,325
4 bedroom $2,700 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Hillside Demographics


Median Individual Income
$34,881 / year

Median Household Income
$75,239 / year

Families w/ Dual Incomes
57%

Unemployment Rate
9.1%
Household Income Distribution
Hillside, NJ

Median Age
37 years

Avg Family Size
3.49 people
Age Distribution
Hillside, NJ

College Education or Above
26%

STEM College Graduates
41%
Education Distribution
Hillside, NJ
Source: U.S. Census Bureau

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