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Millville New Jersey DSCR Rental Loan

Address: Millville, New Jersey
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $75,000
Appraised Value: $160,000
Loan Amount: $119,000
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.60
New Jersey Hard Money
Millville Cash Out Refinance

Asset Based Lending recently funded a DSCR rental loan for a new borrower in Millville New Jersey. This part-time real estate investor contacted ABL for a cash out refinance loan on a two-family rental property with tenants already in place. With a DSCR of 1.60, this property is already generating positive cash-flow for the borrower. While residents in Millville predominantly own their homes, there is still a significant portion of people renting. Located on the southern end of New Jersey, Millville is an ideal area for people who desire easy access to nature while still within commuting distance to major cities like Wilmington and Philadelphia.

Millville Hard Money
NJ Rental Loan
Millville Rental Loan