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Multifamily Loans in
Manchester, NJ

Overview

Manchester is located in a good market for 5+ unit multifamily loans. Multifamily loans in Manchester are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Manchester are competitive. Manchester 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 Manchester.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Manchester, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Manchester 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 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
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 Manchester 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 Manchester, NJ

All major multifamily lender types are lending in Manchester.


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


Manchester Market

The city of Manchester in Ocean County has a population of 43,503. The median rent in Ocean County for a 2 bedroom is $1,771. The median Manchester resident is 65 years old with a yearly income of $27,592. The average family has 2.6 members and a median household income of $43,878. Manchester has a 22% higher education rate. The unemployment rate in Manchester is 7.0%.


Population
43,503 people

County
Ocean County

Renters

14.9% of Manchester households are renters.


Rent Burden

46.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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

Manchester Demographics


Median Individual Income
$27,592 / year

Median Household Income
$43,878 / year

Families w/ Dual Incomes
32%

Unemployment Rate
7.0%
Household Income Distribution
Manchester, NJ

Median Age
65 years

Avg Family Size
2.6 people
Age Distribution
Manchester, NJ

College Education or Above
22%

STEM College Graduates
40%
Education Distribution
Manchester, NJ
Source: U.S. Census Bureau

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