Camden County gives investors Philadelphia-area rents with New Jersey housing, from Camden city rowhouses to Collingswood, Pennsauken and Haddon Township twins. Property taxes and municipal rental rules shape a DSCR cash-out here more than almost anything else.
In short: Yes, LendingStreet finances DSCR cash-out refinances on 1-8 unit rentals in the Camden area, up to 75% LTV and qualified on the property's rent instead of tax returns. Loans start at $150,000 with a 620 minimum credit score, and the rent must cover the new payment at the program minimum, 1.0x on standard programs. In Camden County, high New Jersey property taxes, the statewide lead inspection rule and town-by-town rental certificates are the local items to check.
You take a new loan larger than your current balance, pay off the existing mortgage and keep the difference. On a DSCR loan the new balance is sized off the appraised value, up to 75% LTV on cash-out, and the borrower signs for the loan personally while the property can stay in an LLC.
Qualification uses the debt service coverage ratio: rent divided by the new monthly payment, including principal, interest, taxes, insurance and any HOA dues. A bigger loan means a bigger payment, so the ratio after the cash-out is the one that must clear 1.0x on standard programs.
The cash can go toward your next acquisition, upgrades across the portfolio, replacing a short-term loan with long-term financing or simply a stronger reserve cushion.
Camden city has rowhouses and older homes in Cramer Hill, East Camden, Fairview, Parkside and near the waterfront, with low prices and strong rents relative to value. Many single properties in the city fall below the $150,000 loan minimum, so investors often refinance larger properties or suburban rentals.
Collingswood, Haddon Township, Pennsauken, Audubon, Gloucester City, Bellmawr and Cherry Hill offer twins, duplexes and single-family homes with PATCO and bridge access to Philadelphia.
New Jersey property taxes are among the highest in the country, and the bill is set by the municipality, county and school district. On a Camden County rental, taxes can rival principal and interest, so the tax line often decides how much cash the ratio supports.
Assessments vary widely by town depending on when it last revalued. Use the actual current bill, not a percentage estimate, and check for pending revaluations.
Several Camden County towns have run revaluations in recent years, so a bill based on an old assessment may change soon.
New Jersey requires lead-based paint inspections for most pre-1978 rental units, generally at tenant turnover, with a lead-safe certification. Most Camden County rentals are older, so plan for inspections and keep the certificates.
Older rowhouses and twins can have roof, masonry, sewer line and basement water issues that appraisers and insurers note.
Many Camden County towns require a certificate of occupancy or rental inspection at each tenant change, and New Jersey requires landlords to file a registration statement. Requirements differ by town, so check with the municipality.
New Jersey's Anti-Eviction Act limits removing tenants to specific causes for most rental units. That favors long, stable tenancies, which suits a DSCR loan qualified on lease income.
Camden County towns also vary in how often they inspect smoke and carbon monoxide detectors, fire extinguishers and other safety items, so ask for the checklist.
This example is illustrative and not a quote. An investor owns a Collingswood duplex with both units leased. It appraises at $360,000 with an existing payoff of $140,000. Combined rent is $3,000 a month, property taxes are $900 a month and insurance is $150.
At 75% LTV the new loan is $270,000, which leaves about $130,000 after the $140,000 payoff, before closing costs. Estimated principal and interest on a 30-year schedule is about $1,888, so the total payment is about $2,938 and the DSCR is about 1.02x, above the 1.0x standard minimum. At 70% LTV the loan is $251,500, the payment drops to about $2,809 and the DSCR is about 1.07x, with about $111,500 in cash before closing costs. Some investors choose the smaller loan for extra cushion.
Small changes move the ratio. A higher insurance quote, a tax increase or a lower appraised rent each raise the payment's share of rent, so run the numbers with current figures before you ask for a specific cash amount.
| Item | At 75% LTV | At 70% LTV |
|---|---|---|
| Appraised value | $360,000 | $360,000 |
| New loan amount | $270,000 | $251,500 |
| Existing loan payoff | $140,000 | $140,000 |
| Cash before closing costs | $130,000 | $111,500 |
| Estimated principal and interest | About $1,888 | About $1,759 |
| Taxes and insurance | $1,050 | $1,050 |
| Total monthly payment | About $2,938 | About $2,809 |
| DSCR at $3,000 rent | About 1.02x | About 1.07x |
New Jersey's realty transfer fee applies to deed transfers, so a refinance does not trigger it, and there is no mortgage recording tax. Title insurance, recording, the appraisal and lender fees make up most costs.
If you bought or renovated recently, seasoning matters. Some programs lend on the new appraised value quickly; others look back to your purchase price and improvement receipts for the first months.
A complete file means a faster appraisal order and a clearer answer.
Our investor loans are business-purpose loans on non-owner-occupied property, held personally or in an LLC. Share the property address, value estimate, current payoff and rent, and we will size the loan against the actual Camden County tax bill and a current insurance quote.
We typically show two or three loan amounts so you can weigh cash against cushion. Use the form below or call (877) 298-1001. Our New Jersey cash-out refinance page covers statewide rules.
New Jersey taxes are high, and they sit inside the payment. A large tax bill lowers the ratio, which limits the loan the rent supports.
New Jersey requires lead inspections on most pre-1978 rentals at turnover. Lenders may ask for the certification, so keep it on file.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
Up to 75% of the appraised value, minus your payoff and closing costs. The rent also has to cover the new payment at the program minimum, which can limit the amount.
It depends on the program. Some lend on the new appraised value quickly, while others look back to the purchase price and improvement costs for the first months.
Yes, if the loan is at least $150,000 and the rent supports it. Many single rowhouses are below that, so investors often refinance larger buildings or several properties.
Yes. We finance 1-8 unit rentals across Camden County and New Jersey.
Yes. These towns have strong rents and solid housing. Check the town's rental certificate rules before you apply.
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