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Multifamily Loans in
North Bergen, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in North Bergen, NJ

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

All major multifamily lender types are lending in North Bergen.


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


North Bergen Market

The city of North Bergen in Hudson County has a population of 61,619. The median rent in Hudson County for a 2 bedroom is $2,119. The median North Bergen resident is 39 years old with a yearly income of $29,599. The average family has 3.33 members and a median household income of $63,908. North Bergen has a 28% higher education rate. The unemployment rate in North Bergen is 6.5%.


Population
61,619 people

County
Hudson County

Renters

59.8% of North Bergen households are renters.


Rent Burden

32.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hudson County 1
New Jersey 2
National 2
Studio $1,677 $1,166 $737
1 bedroom $1,825 $1,353 $813
2 bedroom $2,119 $1,671 $1,015
3 bedroom $2,636 $2,131 $1,325
4 bedroom $2,873 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

North Bergen Demographics


Median Individual Income
$29,599 / year

Median Household Income
$63,908 / year

Families w/ Dual Incomes
57%

Unemployment Rate
6.5%
Household Income Distribution
North Bergen, NJ

Median Age
39 years

Avg Family Size
3.33 people
Age Distribution
North Bergen, NJ

College Education or Above
28%

STEM College Graduates
46%
Education Distribution
North Bergen, NJ
Source: U.S. Census Bureau

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