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Jersey City, New Jersey DSCR Rental Loan

Address: Jersey City, New Jersey
Borrower Profile: Repeat Borrower — Real Estate Investor
Purchase Price: $645,000
Appraised Value: $761,000
Loan Amount: $380,000
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.05

Asset Based Lending recently funded a DSCR loan for a repeat borrower in Jersey City New Jersey. The property was purchased for $645,000 with an appraised value of $761,000 and a loan amount of $380,000. The property is a 2 bedroom and 2 bathroom luxury residence with home office and dining area in the heart of Downtown Jersey City. The apartment offers 1155 SF of living with an open concept floor plan, hardwood floors throughout, and updated appliances. The apartment features Smart Home voice-controlled recessed lighting and thermostat, which are compatible with Alexa and Google smart systems. Approximately 70% of Jersey City’s housing units are renters, making this a golden investment for the borrower. With a DSCR of 1.05 this investment opportunity provides the borrower with both stability and potential for growth in the thriving Jersey City real estate market.

Jersey City hard money loan
Houses in New Jersey
New Jersey DSCR
Jersey City, New Jersey Real Estate