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Multifamily Loans in
Princeton, NJ

Overview

Princeton is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Princeton are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Princeton are slightly higher than the national average. Princeton apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Princeton.

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Multifamily Loan Rates in Princeton, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Princeton 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 $6M
5 Year Fixed 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
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®
$6M to $100M
5 Year Fixed 3.10% - 3.35%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.30% - 3.70%
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 Princeton 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.

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Multifamily Lenders in Princeton, NJ

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Princeton.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 02, 2021


Princeton Market

The city of Princeton in Mercer County has a population of 31,187. The median rent in Mercer County for a 2 bedroom is $1,683. The median Princeton resident is 34 years old with a yearly income of $40,105. The average family has 3.04 members and a median household income of $137,672. Princeton has a 81% higher education rate. The unemployment rate in Princeton is 3.3%.


Population
31,187 people

County
Mercer County

Renters

39.8% of Princeton households are renters.


Rent Burden

30.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Mercer County 1
New Jersey 2
National 2
Studio $1,110 $1,166 $737
1 bedroom $1,280 $1,353 $813
2 bedroom $1,683 $1,671 $1,015
3 bedroom $2,093 $2,131 $1,325
4 bedroom $2,304 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Princeton Demographics


Median Individual Income
$40,105 / year

Median Household Income
$137,672 / year

Families w/ Dual Incomes
53%

Unemployment Rate
3.3%
Household Income Distribution
Princeton, NJ

Median Age
34 years

Avg Family Size
3.04 people
Age Distribution
Princeton, NJ

College Education or Above
81%

STEM College Graduates
56%
Education Distribution
Princeton, NJ
Source: U.S. Census Bureau

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