Newark New Jersey DSCR Rental Loan
Address: Newark, New Jersey
Borrower Profile: Repeat Borrower — Real Estate Investor
Purchase Price: $50,000
Appraised Value: $469,000
Loan Amount: $328,300
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.38
![Front - Kearny NJ NJ Rental Property Investor](https://cdn.abl1.net/wp-content/uploads/2023/09/Front-Kearny-NJ.png)
![Back - Kearny NJ New Jersey Rental Loan](https://cdn.abl1.net/wp-content/uploads/2023/09/Back-Kearny-NJ.png)
Situation:
Asset Based Lending recently funded a DSCR rental loan for a repeat borrower in Newark, New Jersey for a repeat borrower and real estate investor. The property was purchased for $50,000 with an appraised value of $469,000 and a loan amount of $328,300. The borrower recently completed renovations on this property and was looking to cash out and refinance their previous loan. With 68% of households in Newark being renter occupied, this is a great investment for the borrower’s real estate portfolio. With a DSCR of 1.38 it is already generating positive cashflow and contributing to the borrower’s real estate portfolio.
![DSCR in New Jersey](https://cdn.abl1.net/wp-content/uploads/2024/01/living-room-5.png)
![New Jersey private money lender](https://cdn.abl1.net/wp-content/uploads/2024/01/bedroom-12.png)
![hard money lender in New Jersey](https://cdn.abl1.net/wp-content/uploads/2024/01/kitchen-16.png)
![Newark Real Estate](https://cdn.abl1.net/wp-content/uploads/2024/01/bathroom-11.png)
Get Started
![prequalify-icon](https://cdn.abl1.net/wp-content/uploads/2021/10/prequalify-icon.png)
![call-us-icon](https://cdn.abl1.net/wp-content/uploads/2021/10/call-us-icon.png)
![email-us-icon](https://cdn.abl1.net/wp-content/uploads/2021/10/email-us-icon.png)