Loading...

Multifamily Loans in
Washington, NJ

Overview

Washington is located in a good market for 5+ unit multifamily loans. Multifamily loans in Washington are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Washington are competitive. Washington 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 Washington.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Washington, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Washington 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 $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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®
$7.5M to $100M
5 Year Fixed 3.06% - 3.31%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/28/2021. This is not an offer or commitment to lend. Multifamily loan rates in Washington 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 Nov 29, 2021


Multifamily Lenders in Washington, NJ

All major multifamily lender types are lending in Washington.


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 Nov 29, 2021


Washington Market

The city of Washington in Gloucester County has a population of 47,833. The median rent in Gloucester County for a 2 bedroom is $1,358. The median Washington resident is 43 years old with a yearly income of $43,973. The average family has 3.21 members and a median household income of $97,247. Washington has a 39% higher education rate. The unemployment rate in Washington is 5.4%.


Population
47,833 people

County
Gloucester County

Renters

17.1% of Washington households are renters.


Rent Burden

30.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Gloucester County 1
New Jersey 2
National 2
Studio $970 $1,166 $737
1 bedroom $1,121 $1,353 $813
2 bedroom $1,358 $1,671 $1,015
3 bedroom $1,689 $2,131 $1,325
4 bedroom $1,935 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Washington Demographics


Median Individual Income
$43,973 / year

Median Household Income
$97,247 / year

Families w/ Dual Incomes
63%

Unemployment Rate
5.4%
Household Income Distribution
Washington, NJ

Median Age
43 years

Avg Family Size
3.21 people
Age Distribution
Washington, NJ

College Education or Above
39%

STEM College Graduates
40%
Education Distribution
Washington, 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