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Multifamily Loans in
West New York, NJ

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in West New York, NJ

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

All major multifamily lender types are lending in West New York.


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


West New York Market

The city of West New York in Hudson County has a population of 52,723. The median rent in Hudson County for a 2 bedroom is $2,119. The median West New York resident is 36 years old with a yearly income of $26,165. The average family has 3.15 members and a median household income of $56,436. West New York has a 30% higher education rate. The unemployment rate in West New York is 5.7%.


Population
52,723 people

County
Hudson County

Renters

79.5% of West New York households are renters.


Rent Burden

31.2% 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

West New York Demographics


Median Individual Income
$26,165 / year

Median Household Income
$56,436 / year

Families w/ Dual Incomes
55%

Unemployment Rate
5.7%
Household Income Distribution
West New York, NJ

Median Age
36 years

Avg Family Size
3.15 people
Age Distribution
West New York, NJ

College Education or Above
30%

STEM College Graduates
43%
Education Distribution
West New York, NJ
Source: U.S. Census Bureau

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