New Brunswick is located in a strong market for 5+ unit multifamily loans. Multifamily loans in New Brunswick are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in New Brunswick are some of the lowest nationally. New Brunswick 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 New Brunswick.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in New Brunswick are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.74% - 7.48% |
| 7 Year Fixed | 6.70% - 7.21% |
| 10 Year Fixed | 6.71% - 7.11% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.97% - 7.21% |
| 7 Year Fixed | 6.93% - 7.17% |
| 10 Year Fixed | 6.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.54% - 7.28% |
| 7 Year Fixed | 6.50% - 7.01% |
| 10 Year Fixed | 6.51% - 6.91% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in New Brunswick.
The city of New Brunswick in Middlesex County has a population of 55,676. The median rent in Middlesex County for a 2 bedroom is $1,888. The median New Brunswick resident is 24 years old with a yearly income of $21,910. The average family has 3.69 members and a median household income of $43,783. New Brunswick has a 23% higher education rate. The unemployment rate in New Brunswick is 5.8%.
81.3% of New Brunswick households are renters.
50.6% median household income spent on rent.
Bedrooms |
Middlesex 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 |
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