Long Branch is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Long Branch are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Long Branch are some of the lowest nationally. Long Branch 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 Long Branch.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Long Branch are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.38% - 7.12% |
| 7 Year Fixed | 6.40% - 6.91% |
| 10 Year Fixed | 6.45% - 6.85% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.32% - 6.56% |
| 7 Year Fixed | 6.43% - 6.67% |
| 10 Year Fixed | 6.39% - 6.63% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.18% - 6.92% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.25% - 6.65% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Long Branch.
The city of Long Branch in Monmouth County has a population of 30,241. The median rent in Monmouth County for a 2 bedroom is $1,771. The median Long Branch resident is 37 years old with a yearly income of $29,809. The average family has 3.17 members and a median household income of $59,892. Long Branch has a 28% higher education rate. The unemployment rate in Long Branch is 7.6%.
58.3% of Long Branch households are renters.
36.4% median household income spent on rent.
Bedrooms |
Monmouth County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,207 | $1,166 | $737 |
| 1 bedroom | $1,384 | $1,353 | $813 |
| 2 bedroom | $1,771 | $1,671 | $1,015 |
| 3 bedroom | $2,441 | $2,131 | $1,325 |
| 4 bedroom | $2,706 | $2,445 | $1,521 |
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