Pennsauken is located in a good market for 5+ unit multifamily loans. Multifamily loans in Pennsauken are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Pennsauken are competitive. Pennsauken 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 Pennsauken.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pennsauken are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.68% - 6.92% |
| 10 Year Fixed | 6.64% - 6.88% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Pennsauken.
The city of Pennsauken in Camden County has a population of 35,660. The median rent in Camden County for a 2 bedroom is $1,358. The median Pennsauken resident is 38 years old with a yearly income of $30,521. The average family has 3.43 members and a median household income of $67,300. Pennsauken has a 20% higher education rate. The unemployment rate in Pennsauken is 7.8%.
24.4% of Pennsauken households are renters.
37.3% median household income spent on rent.
Bedrooms |
Camden County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $970 | $1,166 | $737 |
| 1 bedroom | $1,121 | $1,353 | $813 |
| 2 bedroom | $1,358 | $1,671 | $1,015 |
| 3 bedroom | $1,689 | $2,131 | $1,325 |
| 4 bedroom | $1,935 | $2,445 | $1,521 |
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