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Multifamily Loans in
Ocean, NJ

Overview

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

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Ocean, NJ

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

All major multifamily lender types are lending in Ocean.


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


Ocean Market

The city of Ocean in Monmouth County has a population of 26,709. The median rent in Monmouth County for a 2 bedroom is $1,771. The median Ocean resident is 46 years old with a yearly income of $44,574. The average family has 3.05 members and a median household income of $94,284. Ocean has a 46% higher education rate. The unemployment rate in Ocean is 4.3%.


Population
26,709 people

County
Monmouth County

Renters

32.3% of Ocean households are renters.


Rent Burden

29.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Monmouth 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

Ocean Demographics


Median Individual Income
$44,574 / year

Median Household Income
$94,284 / year

Families w/ Dual Incomes
57%

Unemployment Rate
4.3%
Household Income Distribution
Ocean, NJ

Median Age
46 years

Avg Family Size
3.05 people
Age Distribution
Ocean, NJ

College Education or Above
46%

STEM College Graduates
38%
Education Distribution
Ocean, NJ
Source: U.S. Census Bureau

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