Multi-Unit DSCR Lender in New Jersey
Total Quality Lending finances experienced real estate investors across New Jersey with Multi-Unit DSCR loans on single 5–8 unit residential and 2–8 unit mixed-use buildings. Qualify on the property’s rental cash flow — up to 70% LTV, credit scores from 720, loans up to $2M.
Skip the W-2s, tax returns, and DTI gymnastics. The Multi-Unit DSCR product approves on the building’s rents and a DSCR of 1.00 or better.
| Loan tier (720+ FICO) | Purchase | R/T Refi | Cash-Out |
|---|---|---|---|
| Loan amount ≤ $1,500,000 (New Jersey overlay) | 70% | 65% | 65% |
| Loan amount ≤ $2,000,000 (New Jersey overlay) | 70% | 65% | 65% |
New Jersey overlay flattens both loan tiers to the same LTV caps with a minimum FICO of 720.
A full interior inspection of all units is required. Residential 5–8 unit appraisals use FHLMC Form 71A/71B, FNMA Form 1050, or a similar short form (a narrative report may be used). Mixed-use 2–8 appraisals use General Purpose Commercial Forms (e.g., GP Commercial Summary Form / CoreLogic a la mode).
Yes. Total Quality Lending provides Multi-Unit DSCR loans throughout New Jersey on single 5–8 unit residential properties and 2–8 unit mixed-use properties. Qualification is based on the property's rental cash flow — no W-2s or personal tax returns required. The product is available to experienced investors only.
In New Jersey, the state overlay caps purchase LTV at 70% and refinance LTV at 65%, with a minimum credit score of 720. Cash-out is capped at 65%. Maximum loan amount is $2M.
Minimum qualifying FICO in New Jersey is 720. The 720 minimum applies because New Jersey is one of the state-overlay states (CT, FL, NJ). DSCR ≥ 1.00 is required regardless of credit score.
New Jersey Multi-Unit DSCR loans cover (1) single residential buildings with 5–8 units, and (2) single mixed-use buildings with 2–8 units. Mixed-use commercial space must be retail, office, or restaurant and may not exceed 49.99% of the total building area. Rural properties are not eligible; up to 2 acres allowed.
Loan amounts in New Jersey range from $400K to $2M, with a maximum cash-in-hand of $1M on a cash-out refinance.
No. Multi-Unit DSCR is for experienced investors only — the borrower or guarantor must have owned and managed commercial or non-owner-occupied residential real estate for at least 1 year within the last 3 years. First-time investors and first-time homebuyers are not eligible.
No. Short-term rental income is not eligible under Multi-Unit DSCR. Qualifying income on a leased unit is the lower of the executed lease or estimated market rent on the appraisal. Vacant residential units (subject to vacancy maximums) qualify at 75% of market rent and must be actively marketed for rent.
Get a fast Multi-Unit DSCR quote and talk to a real human who invests in real estate too.
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Had a fantastic experience with Total Quality Lending from start to finish. Zach and his entire team were so wonderful, kind and easy to deal with. I had been kind of dreading the process and all of the paperwork it involves, but they made everything so easy and smooth. Cannot recommend them highly enough.
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Total Quality Lending exceeded every expectation we had as first-time homebuyers. Their communication was flawless throughout the entire process, and thanks to them we were able to close on our home in under 15 days. We started the process feeling very intimidated as first-time buyers in an ultra-competitive market, but now we are homeowners thanks to their exceptional work! Couldn't recommend them enough.
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