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Multifamily Loans in
Plainsboro, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Plainsboro, NJ

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

All major multifamily lender types are lending in Plainsboro.


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


Plainsboro Market

The city of Plainsboro in Middlesex County has a population of 23,028. The median rent in Middlesex County for a 2 bedroom is $1,888. The median Plainsboro resident is 37 years old with a yearly income of $72,316. The average family has 3.06 members and a median household income of $113,131. Plainsboro has a 79% higher education rate. The unemployment rate in Plainsboro is 4.5%.


Population
23,028 people

County
Middlesex County

Renters

50.5% of Plainsboro households are renters.


Rent Burden

22.1% 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

Plainsboro Demographics


Median Individual Income
$72,316 / year

Median Household Income
$113,131 / year

Families w/ Dual Incomes
51%

Unemployment Rate
4.5%
Household Income Distribution
Plainsboro, NJ

Median Age
37 years

Avg Family Size
3.06 people
Age Distribution
Plainsboro, NJ

College Education or Above
79%

STEM College Graduates
66%
Education Distribution
Plainsboro, NJ
Source: U.S. Census Bureau

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