Old Bridge is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Old Bridge are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Old Bridge are some of the lowest nationally. Old Bridge 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 Old Bridge.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Old Bridge 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 Old Bridge.
The city of Old Bridge in Middlesex County has a population of 65,782. The median rent in Middlesex County for a 2 bedroom is $1,888. The median Old Bridge resident is 42 years old with a yearly income of $43,890. The average family has 3.27 members and a median household income of $91,919. Old Bridge has a 40% higher education rate. The unemployment rate in Old Bridge is 4.9%.
33.1% of Old Bridge households are renters.
28.2% 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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