New Jersey Private Investment Lenders

Looking for real estate private investment lenders in New Jersey? If you carry out an online search, then you’re sure to be inundated with results. But what if we told you that not all hard money finance is made equal?

From interest rates to closing times, borrower requirements to property value percentage lending, navigating the maze of options—especially for those who’re new to the property game—can be…. Err, how to put this politely…? Somewhat challenging. 

But fear not. The following covers all the basics you need to know to hone your search for the right loan option for you. 

Wherever in the country you might be looking to buy, seeking out the services of the right lender is a key aspect of your next successful property purchase. 

From New Mexico to New Jersey: Private Investment Lenders 101

• What type of loans are on offer?
• What are the borrower requirements?
• Interest rates, close periods, and loan-to-value ratios

What type of loans are on offer? 

Financial solutions to fund your purchase include the following:

• A DSCR Loan: This stands for debt service coverage ratio. Money is lent based on the cash flow that will be generated from renting the property. As long as this is at least more than the monthly repayments, then you stand a good chance of being able to borrow. In general, no proof of income, tax status, or other personal financial details need to be divulged when taking out a DSCR loan. This is an excellent choice for a BRRRR portfolio. (Buy, Rehab, Rent, Refinance, Repeat).
• Fix & Flip loans: As the name suggests, these fund both the purchase of a rehab property and the cost of renovations. It’s usually necessary to have at least a small lump sum to start with—a fix & flip loan will only cover up to 90% of the purchase price.
• Bridge Loans: Used to finance a short-term gap financial gap, perhaps to fund the purchase of a new property while you sell another.
• Commercial loans: For the purchase of or renovation of a commercial property, or perhaps to start or grow a business.

What are the borrower requirements? 

The beauty of borrowing from a private investment lender is that they’re not tied to the strict regulations of banks or other financial institutions. Hard money loans are usually provided on the individual circumstances, such as the realistic income that the proposition will bring.

You might not have to provide a large amount (or any of) of the purchase amount at all. It’s often not necessary to provide proof of employment, financial status, or tax information. 

The best lenders partner with borrowers across the nation. This means that you don’t necessarily need to borrow from a company local to the area you plan to purchase. For example, a New Jersey-based private investment lender can finance your purchase in California, Texas, Connecticut, or any other US location.

Interest rates, close periods, and loan-to-value ratios 

Of course, there are many variables from one lender to another. Take care to understand the small print, as borrowing from the wrong provider could end up costing you a significant amount of money.

Be sure to compare the following: 

• The interest rate of the loan. Even the smallest of percentages can dig deep into your potential profits.
• How fast the funds are made available. This is known as the close period and is defined by the lender—it can take mere days or some weeks to process, so be sure to confirm when you’ll receive the money before you sign any lending agreement.

Is BRRRR Loans the Best New Jersey Private Investment Lender Out There? 

 Well, it might be considered a little brash to give ourselves that accolade, but it’s certainly something we aspire to be. From our market-leading interest rates, super-fast closing, non-intrusive borrower disclosures, and wholly attractive loan-to-value ratios, it’s no wonder we’re fast becoming the go-to lender for property investors—not just in NJ—but nationwide.

Discover more at  https://www.brrrr.com and call our professional team today to discuss the art of the possible…