Hard Money Loan for Single-Family Residence in Roselle, New Jersey

Funded by JCAP Private Lending

$165,375

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

07/25/2019

Property Type
Single Family Residence
Property City

Roselle

Property State

NJ

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Value

75%

Deal Summary

Jcap Private Lending, an asset-based lender, funded a $165,375 1st lien position bridge loan for the acquisition of a single-family residence in Roselle, NJ. The Borrower was trying to salvage his grandmother’s house that was near foreclosure. Jcap took a chance on funding this loan when the Borrower kept hitting dead ends with other lenders and banks. This 12-month loan with a 75% LTV has allowed the Borrower to keep the home in the family and buy himself time to refinance this property into a long-term loan at a later date. This SFR hard money loan was funded in July 2019.

Funded By

JCAP Private Lending

We specialize in new construction projects as well as 2nd mortgages