Loading...

Multifamily Loans in
Union City, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Union City, NJ

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

All major multifamily lender types are lending in Union City.


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


Union City Market

The city of Union City in Hudson County has a population of 67,982. The median rent in Hudson County for a 2 bedroom is $2,119. The median Union City resident is 36 years old with a yearly income of $24,297. The average family has 3.26 members and a median household income of $48,992. Union City has a 22% higher education rate. The unemployment rate in Union City is 4.5%.


Population
67,982 people

County
Hudson County

Renters

79.2% of Union City households are renters.


Rent Burden

35.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hudson County 1
New Jersey 2
National 2
Studio $1,677 $1,166 $737
1 bedroom $1,825 $1,353 $813
2 bedroom $2,119 $1,671 $1,015
3 bedroom $2,636 $2,131 $1,325
4 bedroom $2,873 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Union City Demographics


Median Individual Income
$24,297 / year

Median Household Income
$48,992 / year

Families w/ Dual Incomes
55%

Unemployment Rate
4.5%
Household Income Distribution
Union City, NJ

Median Age
36 years

Avg Family Size
3.26 people
Age Distribution
Union City, NJ

College Education or Above
22%

STEM College Graduates
42%
Education Distribution
Union City, 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