201-942-9089 info@abl1.net

Newark New Jersey Cash Out Refinance Loan

Address: Newark, New Jersey
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $0
Appraised Value: $452,000
Loan Amount: $275,000
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.34
Newark DSCR Loan
NJ Refinance

Asset Based Lending recently funded a DSCR rental loan for a first-time borrower in Newark, New Jersey. This investor contacted ABL for a cash out refinance loan for a two-family property. The property is unoccupied, but once the investor rents the property out to tenants, they expect to collect market rent for both units. With a DSCR of 1.34 this property will generate positive monthly cash-flow and contribute to the borrower’s investment portfolio. Located a short train ride away from New York City, Newark is a great location for residents who regularly commute into Manhattan. Most of Newark’s residents rent versus owning their home making it a perfect place for investors to purchase rental properties.

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Newark Cash Out Refinance Loan