New Jersey Multifamily Rehab Lenders
Are you seeking financing for a multifamily rehab project in New Jersey? On this page, you’ll find a list of private lending firms that offer short-term private loans to purchase & renovate (or re-purpose) multifamily properties throughout New Jersey’s urban areas. This includes properties with 5 or more apartment units, as well as mixed-use properties where a majority of the units are apartments. The sponsor/borrower needs to contribute a significant down payment for the purchase, typically 15-20%. Some lenders will fund 100% of the rehab budget. The loan-to-completed value for most multifamily lenders is 70%, or whatever LTV will qualify for a long-term take-out loan.Displaying 0 Results
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$75,000 - $15,000,000
6 to 360 months
7.00% - 12.00%
1.50% - 4.00%
$500,000 - $25,000,000
6 to 24 months
10.00% - 14.00%
1.00% - 4.00%
$3,000,000 - $100,000,000
6 to 36 months
10.50% - 12.00%
1.00% - 2.00%
$75,000 - $5,000,000
3 to 360 months
10.50% - 12.00%
2.00% - 3.00%
$75,000 - $20,000,000
13 to 360 months
6.25% - 12.10%
0.25% - 2.50%
$250,000 - $10,000,000
6 to 36 months
8.50% - 11.99%
0 - 2.00%
$50,000 - $3,000,000
12 to 60 months
3.00% - 5.00%
$100,000 - $40,000,000
6 to 24 months
9.00% - 12.50%
0.50% - 2.00%
$1,000,000 - $10,000,000
6 to 60 months
8.90% - 11.90%
1.00% - 1.50%
Funded Multifamily Rehab Loans in New Jersey
Rehab Loan for 6-Unit Multifamily Property in Jersey City, New Jersey
$1,667,500
Funded by Simplending Financial
Simplending Financial, a private lender, funded a $1,667,500 1st lien position rehab loan for a 6-unit multifamily property in Jersey City, NJ. We funded 100% of the $206,520 renovation budget and 75% of the $1,950,000 purchase price, while the Borrower contributed 25% cash to the purchase at closing. The after-repair value was estimated at $3,090,000, which will result in a 54% loan-to-value. The Borrower had excellent credit. They plan to lease the property upon completion of the heavy rehab and eventually refinance into a DSCR loan as an exit strategy. The interest rate was 11.5% and we charged 2.25% origination points. The loan term was set at 12 months. This multifamily rehab loan was funded in August 2024.
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