New Jersey Construction Lenders for Residential Properties
Are you building a residential investment property in New Jersey? On this page you'll find a list of private construction lenders for ground-up projects throughout New Jersey's urban areas. The maximum loan-to-completed value (LTCV) for most lenders in New Jersey is 70%. You typically need to contribute 20%-25% of the project costs and have some cash reserves. Development experience is almost always required. Most lenders will require the project to be fully entitled and shovel ready. A small percentage of lenders will consider land acquisition and/or horizontal financing. The lenders listed here can fund a single home build, or a development with multiple homes. We have a separate page for lenders that offer ground-up construction financing for commercial properties.Searching...
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Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Nationwide Mortgage
Outstanding Service for Investment Property Bridge, Rehab, Rental, and Construction Loans
Funded Residential Construction Loans in New Jersey
RCN Capital, a national direct private lender, funded a $991,300 1st lien position ground-up construction loan for a single-family residence in Closter, NJ. We funded 100% of the $685,300 construction budget and 52% of the $626,000 purchase price, while the Borrower contributed 48% to the purchase at closing. The existing property was being demolished to make way for a new build of approximately 4,300 square feet. The completed value was estimated at $2,100,000 so our loan-to-completed-value was 47.2%, projecting a solid return on investment of 57.89%. The Borrower plans to sell the property upon completion of the vertical construction. They had a mid-FICO of 684 and sufficient liquidity. The interest rate was 12.49%, and we charged 3% origination points. The loan term was set at 18 months. This SFR ground-up construction loan was funded in March 2023.