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Multifamily Loans in
Pennsauken, NJ

Overview

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.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Pennsauken, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pennsauken are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
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 Pennsauken 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 Pennsauken, NJ

All major multifamily lender types are lending in Pennsauken.


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


Pennsauken Market

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%.


Population
35,660 people

County
Camden County

Renters

24.4% of Pennsauken households are renters.


Rent Burden

37.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Pennsauken Demographics


Median Individual Income
$30,521 / year

Median Household Income
$67,300 / year

Families w/ Dual Incomes
56%

Unemployment Rate
7.8%
Household Income Distribution
Pennsauken, NJ

Median Age
38 years

Avg Family Size
3.43 people
Age Distribution
Pennsauken, NJ

College Education or Above
20%

STEM College Graduates
41%
Education Distribution
Pennsauken, NJ
Source: U.S. Census Bureau

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