Recently Funded DSCR Loan In Glassboro, New Jersey
Loan Scenario:
American Heritage Lending closed a $313,500 DSCR cash-out refinance for an experienced investor on a two-unit property in Glassboro, New Jersey. The building appraised at $418,000, and the loan came in at 75% loan-to-value while the combined rents carried the debt at a 1.225 DSCR. The refinance let the borrower take cash out of a performing asset and keep it working, with the stability of a fixed 30-year term underneath it.
Glassboro is a Gloucester County college town in South Jersey, home to Rowan University and within commuting distance of Philadelphia. The steady churn of student and workforce tenants keeps two-unit properties in demand and occupancy tight, which is precisely why the rents on this deal supported a healthy debt-service cushion. For an investor in a market with reliable renter turnover, releasing equity without disturbing that income stream is a smart way to grow.
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Key Deal Points
| Address | Glassboro, NJ |
| Loan Type | DSCR Cash Out Refinance |
| Borrower Profile | Experienced Investor |
| Property Type | 2 Units |
| Appraised Value | $418,000 |
| Loan Amount | $313,500 |
| Loan To Value (LTV) | 75% |
| DSCR | 1.225 |
| Loan Term | 30-Year |
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