Loading...

Multifamily Loans in
Galloway, NJ

Overview

Galloway is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Galloway are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Galloway are slightly higher than the national average. Galloway apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Galloway.

Get multifamily loan quotes for Feb 02, 2025


Multifamily Loan Rates in Galloway, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Galloway are:

Fannie Mae®
$1M to $6M
5 Year Fixed 6.56% - 7.30%
7 Year Fixed 6.46% - 6.97%
10 Year Fixed 6.40% - 6.80%
Freddie Mac®
$1M to $6M
5 Year Fixed 5.63% - 5.87%
7 Year Fixed 5.34% - 5.58%
10 Year Fixed 5.28% - 5.52%
Fannie Mae®
$6M to $100M
5 Year Fixed 6.36% - 7.10%
7 Year Fixed 6.26% - 6.77%
10 Year Fixed 6.20% - 6.60%
Freddie Mac®
$6M to $100M
5 Year Fixed 5.65% - 5.80%
7 Year Fixed 5.66% - 5.81%
10 Year Fixed 5.66% - 5.81%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 02/01/2025. This is not an offer or commitment to lend. Multifamily loan rates in Galloway 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 Feb 02, 2025


Multifamily Lenders in Galloway, NJ

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Galloway.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Feb 02, 2025


Galloway Market

The city of Galloway in Atlantic County has a population of 36,094. The median rent in Atlantic County for a 2 bedroom is $1,509. The median Galloway resident is 41 years old with a yearly income of $30,561. The average family has 3.14 members and a median household income of $74,196. Galloway has a 31% higher education rate. The unemployment rate in Galloway is 6.9%.


Population
36,094 people

County
Atlantic County

Renters
23.7%

23.7% of Galloway households are renters.


Rent Burden
31.8%

31.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Atlantic County 1
New Jersey 2
National 2
Studio $1,012 $1,166 $737
1 bedroom $1,194 $1,353 $813
2 bedroom $1,509 $1,671 $1,015
3 bedroom $2,067 $2,131 $1,325
4 bedroom $2,302 $2,445 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Galloway Demographics


Median Individual Income
$30,561 / year

Median Household Income
$74,196 / year

Families w/ Dual Incomes
59%

Unemployment Rate
6.9%
Household Income Distribution
Galloway, NJ
Under 35kUnder 35k25k-35k25k-35k35k-50k35k-50k75k-100k75k-100k100k-150k100k-150k150k+150k+20.711.318.615.118.815.425.020.015.010.05.00.0
Download SVG
Download PNG

Median Age
41 years

Avg Family Size
3.14 people
Age Distribution
Galloway, NJ
Under 10Under 1010-1910-1920's20's30's30's40's40's50's50's60's60's70's70'sOver 80Over 808.113.517.110.211.116.211.37.5520.016.012.08.04.00.0
Download SVG
Download PNG

College Education or Above
31%

STEM College Graduates
42%
Education Distribution
Galloway, NJ
< High School< High SchoolHigh SchoolHigh SchoolSome CollegeSome CollegeBachelor'sBachelor'sGraduateGraduate8.230.130.721.19.932.024.016.08.00.0
Download SVG
Download PNG
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