New Jersey Investment Property Loans - Easy Street Capital (original) (raw)
NEW JERSEY
INVESTMENT PROPERTY LOANS
Easy Street Capital is proud to be a leading private lender for The Garden State! We offer industry leading Hard Money and DSCR Loans for every type of New Jersey Real Estate Investor. Easy Street Capital is the investment property loan provider for real estate investors of all experience levels and specialties, including popular strategies such as Short Term Rentals, Fixing and Flipping and the BRRRR Method! Our New Jersey DSCR Loans are perfect rental loans for the long-term real estate investor looking for cash flow. Our New Jersey Hard Money Loans are ideal for renovators looking to add value through rehabs or ground-up construction!
Check out the rest of this New Jersey Investment Property Loans page for all the information you need on our loan programs. Check out recently funded rental loans, information on all of our loan programs, FAQs, market analysis and more! To talk to one of our New Jersey Rental Loan specialists today, click the link below!
Program Terms
- Rates starting at 9.900%
- Up to 90% LTC / 70% LTV
- 48 Hour Closes!
Program Terms
- Rates starting at 5.99%
- Up to 80% LTV
- No minimum DSCR!
Program Terms
- Rates starting at 10.900%
- Up to 85% LTC / 65% LTV
- Fastest draws in the industry!
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New Jersey Fix and Flip Loans
Why do New Jersey real estate investors use hard money loans?
New Jersey real estate investors use hard money primarily for speed, higher leverage, and greater flexibility. Borrowers use Easy Street Capital for the reasons mentioned previously but also because of our relationship focus and reliability - capital you can count on!
What are some of the advantages of using Easy Street Capital for my Fix and Flip Loan?
Easy Street Capital prides itself on reliability. Our New Jersey borrowers know that the terms we issue up front are the same terms at funding. Easy Street Capital will review your application and provide you with an EasyFix loan term sheet within 24 hours. No surprises! No junk fees! Easy Street Capital is truly an asset based lender.
Are there minimum credit requirements to obtain a Fix and Flip loan in New Jersey?
Easy Street Capital's EasyFix program requires a minimum credit score of 600.
What are your terms?
New Jersey interest rates for hard money loans range from 9.9%-11.9%, 1.5-3 points, and a $1495 document fee. Please inquire about custom terms for experienced borrowers.
How much down payment is required?
Will you lend money for the renovation?
Yes – our loans can fund the purchase and renovation costs for properties in New Jersey.
Do you charge prepayment penalties?
How quickly can you close?
Easy Street Capital has full discretion which allows us to fund your New Jersey Fix and Flip loan in as little as 48 hours if all parties are prepared to close.
New Jersey DSCR Loans
What are current rental property loan rates?
Loans on New Jersey Rental Properties generally range from 5.99% to 9.99% as of 2024. The rate offered will depend primarily on three factors; your credit score, the DSCR ratio and the LTV ratio. Additional factors include also determine the rate include loan structure, prepayment penalty terms and loan purpose, more advanced analysis of how to get the lowest rate are included in this article. In addition, borrowers can pay more “points” or higher closing fees to lower or “buy down” the interest rate on a rental property loan.
What are the minimum and maximum loan amounts for a Rental Loan from Easy Street Capital?
New Jersey rental loans require a minimum loan amount of 100,000andamaximumloanamountof100,000 and a maximum loan amount of 100,000andamaximumloanamountof3,500,000. Portfolio, or “Blanket” rental loans have a minimum loan amount of $225,000 and must have three or more properties in the portfolio.
What is the minimum down payment if I am purchasing a property?
New Jersey rental loans require a minimum down payment of 20% for rental loans for purchases of rental properties.
Does Easy Street Capital offer vacation rental loans?
Yes – our rental loans can finance all sorts of investment property strategies in New Jersey, including long-term rentals, medium-term rentals and vacation rentals. Not only are vacation rentals eligible, but Easy Street Capital is a leader in financing vacation or short term rental loans with qualifying rental income from sources such as AirDNA and full eligibility in seasonal vacation markets. Check out our free STR Revenue Estimator Tool here!
I’m a first-time investor. Can I qualify with EasyRent?
Yes – EasyRent loans are first-time investor friendly, and we do not have any restrictions or limits on New Jersey loan offerings to first time investors. We are dedicated to helping real estate investors start the journey to financial freedom and love to help people get started!
I have partners in an LLC with split ownership of the property, is that OK?
Yes – in fact we recommend borrowing through an LLC (however borrowing as an individual is OK in most states). We require a full guaranty for anyone who has more than 25% of ownership of the entity and allow up to four separate guarantors on each loan.
I’m planning on purchasing a property that is vacant and to lease it after I buy. Is this OK under the EasyRent program?
Yes – vacant New Jersey properties are fully eligible for rental loans from Easy Street Capital. We will use the market rent (as determined by the appraisal) to project cash flows for the property. Additionally, if planned to utilize the property as a short term or vacation rental, we can utilize projects from industry data providers to qualify the loan.
New Jersey Construction Loans
What are your terms for a New Jersey New Construction Loan?
Interest rates range from 10.9%-11.9%, 1.5-3 points, and a $1495 document fee. Please inquire about custom terms for experienced borrowers.
Are there minimum credit requirements to obtain a New Jersey New Construction loan?
Easy Street Capital's EasyBuild program requires a minimum credit score of 680.
How much down payment is required?
What is the maximum LTV (Loan to Value)?
Easy Street Capital determines Loan To Value (LTV) calculations based on our in-house valuation of the New Jersey property. In most cases the max LTV is 65% for our EasyBuild program.
How can I apply for a New Construction Loan in New Jersey?
You can apply for a loan by filling out the 1-minute loan app. Click here to get started!
How do I submit my first draw request?
You will submit your draw request form with all supporting documents such as invoices and/or receipts to draws@easystreetcap.com. Easy Street Capital will then generate and provide a link to our inspection phone app. This app will be used to take photos of progress at the property. A third-party inspection is available at borrower request or at Easy Street’s discretion.
How long does the process take?
1-2 business days from the time everything is provided to Easy Street.