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Multifamily Loans in
Perth Amboy, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Perth Amboy, NJ

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

All major multifamily lender types are lending in Perth Amboy.


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


Perth Amboy Market

The city of Perth Amboy in Middlesex County has a population of 51,390. The median rent in Middlesex County for a 2 bedroom is $1,888. The median Perth Amboy resident is 33 years old with a yearly income of $26,080. The average family has 3.63 members and a median household income of $52,563. Perth Amboy has a 15% higher education rate. The unemployment rate in Perth Amboy is 3.9%.


Population
51,390 people

County
Middlesex County

Renters

71.3% of Perth Amboy households are renters.


Rent Burden

37.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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

Perth Amboy Demographics


Median Individual Income
$26,080 / year

Median Household Income
$52,563 / year

Families w/ Dual Incomes
50%

Unemployment Rate
3.9%
Household Income Distribution
Perth Amboy, NJ

Median Age
33 years

Avg Family Size
3.63 people
Age Distribution
Perth Amboy, NJ

College Education or Above
15%

STEM College Graduates
45%
Education Distribution
Perth Amboy, NJ
Source: U.S. Census Bureau

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