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Multifamily Loans in
Montgomery, NJ

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Montgomery, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Montgomery 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 3.01% - 3.26%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.23% - 3.63%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/28/2021. This is not an offer or commitment to lend. Multifamily loan rates in Montgomery 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 Nov 29, 2021


Multifamily Lenders in Montgomery, NJ

All major multifamily lender types are lending in Montgomery.


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 Nov 29, 2021


Montgomery Market

The city of Montgomery in Somerset County has a population of 23,045. The median rent in Somerset County for a 2 bedroom is $1,888. The median Montgomery resident is 42 years old with a yearly income of $75,108. The average family has 3.29 members and a median household income of $195,807. Montgomery has a 75% higher education rate. The unemployment rate in Montgomery is 5.3%.


Population
23,045 people

County
Somerset County

Renters

16.2% of Montgomery households are renters.


Rent Burden

28.8% 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

Montgomery Demographics


Median Individual Income
$75,108 / year

Median Household Income
$195,807 / year

Families w/ Dual Incomes
69%

Unemployment Rate
5.3%
Household Income Distribution
Montgomery, NJ

Median Age
42 years

Avg Family Size
3.29 people
Age Distribution
Montgomery, NJ

College Education or Above
75%

STEM College Graduates
65%
Education Distribution
Montgomery, NJ
Source: U.S. Census Bureau

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