Neptune is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Neptune are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Neptune are some of the lowest nationally. Neptune 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 Neptune.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Neptune are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.42% - 5.66% |
| 7 Year Fixed | 5.48% - 5.72% |
| 10 Year Fixed | 5.34% - 5.58% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Neptune.
The city of Neptune in Monmouth County has a population of 27,563. The median rent in Monmouth County for a 2 bedroom is $1,771. The median Neptune resident is 45 years old with a yearly income of $36,199. The average family has 3 members and a median household income of $76,463. Neptune has a 35% higher education rate. The unemployment rate in Neptune is 5.7%.
34.3% of Neptune households are renters.
37.5% median household income spent on rent.
Bedrooms |
Monmouth County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,207 | $1,166 | $737 |
| 1 bedroom | $1,384 | $1,353 | $813 |
| 2 bedroom | $1,771 | $1,671 | $1,015 |
| 3 bedroom | $2,441 | $2,131 | $1,325 |
| 4 bedroom | $2,706 | $2,445 | $1,521 |
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