Vineland is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Vineland are considered greater risk due to market dynamics. Interest rates for multifamily loans in Vineland are higher than the national average. Vineland apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Vineland.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Vineland are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.93% - 7.17% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Vineland.
The city of Vineland in Cumberland County has a population of 59,439. The median rent in Cumberland County for a 2 bedroom is $1,439. The median Vineland resident is 38 years old with a yearly income of $26,013. The average family has 3.3 members and a median household income of $54,476. Vineland has a 19% higher education rate. The unemployment rate in Vineland is 7.2%.
34.1% of Vineland households are renters.
43.4% median household income spent on rent.
Bedrooms |
Cumberland County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $988 | $1,166 | $737 |
| 1 bedroom | $1,103 | $1,353 | $813 |
| 2 bedroom | $1,439 | $1,671 | $1,015 |
| 3 bedroom | $1,910 | $2,131 | $1,325 |
| 4 bedroom | $2,219 | $2,445 | $1,521 |
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