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Multifamily Loans in
Randolph, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Randolph, NJ

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

All major multifamily lender types are lending in Randolph.


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


Randolph Market

The city of Randolph in Morris County has a population of 25,549. The median rent in Morris County for a 2 bedroom is $1,776. The median Randolph resident is 42 years old with a yearly income of $60,450. The average family has 3.21 members and a median household income of $142,459. Randolph has a 63% higher education rate. The unemployment rate in Randolph is 2.9%.


Population
25,549 people

County
Morris County

Renters

25% of Randolph households are renters.


Rent Burden

25.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Morris County 1
New Jersey 2
National 2
Studio $1,221 $1,166 $737
1 bedroom $1,468 $1,353 $813
2 bedroom $1,776 $1,671 $1,015
3 bedroom $2,265 $2,131 $1,325
4 bedroom $2,700 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Randolph Demographics


Median Individual Income
$60,450 / year

Median Household Income
$142,459 / year

Families w/ Dual Incomes
64%

Unemployment Rate
2.9%
Household Income Distribution
Randolph, NJ

Median Age
42 years

Avg Family Size
3.21 people
Age Distribution
Randolph, NJ

College Education or Above
63%

STEM College Graduates
51%
Education Distribution
Randolph, NJ
Source: U.S. Census Bureau

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