Loading...

Multifamily Loans in
Ridgewood, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Ridgewood, NJ

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

All major multifamily lender types are lending in Ridgewood.


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


Ridgewood Market

The city of Ridgewood in Bergen County has a population of 25,056. The median rent in Bergen County for a 2 bedroom is $1,892. The median Ridgewood resident is 41 years old with a yearly income of $78,589. The average family has 3.44 members and a median household income of $184,355. Ridgewood has a 76% higher education rate. The unemployment rate in Ridgewood is 3.4%.


Population
25,056 people

County
Bergen County

Renters

21.9% of Ridgewood households are renters.


Rent Burden

26% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Bergen County 1
New Jersey 2
National 2
Studio $1,341 $1,166 $737
1 bedroom $1,608 $1,353 $813
2 bedroom $1,892 $1,671 $1,015
3 bedroom $2,353 $2,131 $1,325
4 bedroom $2,915 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ridgewood Demographics


Median Individual Income
$78,589 / year

Median Household Income
$184,355 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.4%
Household Income Distribution
Ridgewood, NJ

Median Age
41 years

Avg Family Size
3.44 people
Age Distribution
Ridgewood, NJ

College Education or Above
76%

STEM College Graduates
44%
Education Distribution
Ridgewood, NJ
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day