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Multifamily Loans in
Mount Olive, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Mount Olive, NJ

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

All major multifamily lender types are lending in Mount Olive.


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


Mount Olive Market

The city of Mount Olive in Morris County has a population of 28,915. The median rent in Morris County for a 2 bedroom is $1,776. The median Mount Olive resident is 39 years old with a yearly income of $43,092. The average family has 3.2 members and a median household income of $88,073. Mount Olive has a 42% higher education rate. The unemployment rate in Mount Olive is 4.5%.


Population
28,915 people

County
Morris County

Renters

41.8% of Mount Olive households are renters.


Rent Burden

30.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Morris 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

Mount Olive Demographics


Median Individual Income
$43,092 / year

Median Household Income
$88,073 / year

Families w/ Dual Incomes
61%

Unemployment Rate
4.5%
Household Income Distribution
Mount Olive, NJ

Median Age
39 years

Avg Family Size
3.2 people
Age Distribution
Mount Olive, NJ

College Education or Above
42%

STEM College Graduates
48%
Education Distribution
Mount Olive, NJ
Source: U.S. Census Bureau

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