Camden County sits across the Delaware River from Philadelphia, linked by the PATCO line and the bridges. Investors buy twins, rowhomes and two-families in the river towns, renovate them and refinance in a state where the property tax bill shapes everything.
In short: LendingStreet refinances Camden-area rentals out of hard money, bridge and existing loans with 30-year DSCR loans that qualify on rent. Loans start at $150,000, rate-and-term reaches 80% LTV on some programs and the standard minimum DSCR is 1.0x. In New Jersey, property taxes are among the highest in the country, so the tax line, plus the town's rental certificate of occupancy rules, decide most files.
Collingswood, Haddon Township, Audubon and Oaklyn have older twins and single-family homes along the PATCO line, popular with commuters to Philadelphia. Pennsauken, Gloucester City, Bellmawr and Lindenwold offer lower prices, while Cherry Hill and Voorhees have larger suburban homes.
In the City of Camden, Cramer Hill, Fairview and Parkside have rowhomes that investors renovate, though many fall below the $150,000 loan minimum on their own. Rutgers-Camden, Cooper University Hospital and the waterfront redevelopment add demand near downtown.
Investors from Philadelphia often cross the river for lower prices and steady demand along the PATCO line.
| Area | Typical rental stock | What to check before you refinance |
|---|---|---|
| Collingswood, Haddon Township, Audubon | Twins and two-families near PATCO | Town rental inspections, school taxes |
| Pennsauken, Gloucester City, Bellmawr | Rowhomes, twins, small homes | Flood maps near the river, tax bill |
| Cherry Hill, Voorhees | Larger suburban homes | Township rental registration, higher values |
| City of Camden | Rowhomes and conversions | Loan size and unit legality |
Investors here often finish a renovation on a hard money or bridge note that is interest-only and due within a year or two. Moving that balance into a 30-year DSCR loan stops the maturity clock. LLC borrowers are standard, the minimum credit score is 620 and leverage on rate-and-term reaches 80% LTV on some programs.
Many South Jersey towns require a rental certificate of occupancy or inspection at each tenant change. If the property is between tenants or the new lease just started, make sure the certificate was issued, since the refinance will rely on a legal, occupied unit.
Short-term lenders in South Jersey often fund renovations in draws. Before you refinance, confirm the final draw was released and the work passed any municipal inspection, since an open permit can delay closing.
This example is illustrative and not a quote. An investor bought a two-family home in Haddon Township with a bridge loan, renovated both units and leased them for $1,650 each. The property appraises at $380,000 and the bridge balance is $270,000.
The new loan of $279,000 covers the $270,000 payoff plus $9,000 in closing costs, about 73% of the $380,000 value. Estimated principal and interest on a 30-year term is about $1,927. With taxes of $850 and insurance of $170 a month, the full payment is about $2,947 and DSCR is about 1.12x on $3,300 of rent.
Property tax runs about a quarter of the rent here, which is normal for New Jersey.
Two inputs move this math the most: the appraised value, which caps the loan amount, and the tax and insurance figures, which sit in the payment. A small change in either can move the ratio across the 1.0x line, so check both early.
| Item | Before: bridge loan | After: DSCR rate-and-term |
|---|---|---|
| Loan balance | $270,000 | $279,000 |
| Monthly principal and interest | $2,250 (interest only) | $1,927 |
| Taxes, insurance | $1,020 | $1,020 |
| Total monthly payment | $3,270 | $2,947 |
| DSCR at $3,300 rent | About 1.01x | About 1.12x |
| Term | Short-term, due soon | 30 years |
New Jersey property taxes are among the highest in the country, and school taxes are a large share of them. Camden County towns have very different total rates, so the same rent can produce very different ratios a mile apart. Pull the bill from the municipal tax office.
The realty transfer fee applies to sales and is usually paid by the seller, not to a refinance. Ask the title company for refinance costs, including any municipal lien search for unpaid water or sewer charges.
Many New Jersey municipalities require landlord registration and a certificate of occupancy or inspection before each new tenant moves in, and some have rent control ordinances. Check the town's rules.
Towns along the Delaware River and its creeks, including parts of Gloucester City and Pennsauken, include mapped flood zones. Get a flood determination early so flood insurance is in the payment.
New Jersey also has strong tenant protection laws that limit when a landlord can end a lease, so screen tenants carefully and keep leases current before you refinance.
Two-family homes and converted twins are common in Collingswood, Audubon and Gloucester City, and they qualify on combined rent. Small buildings with five to eight units are residential for DSCR purposes, though max LTV varies by program.
Rate-and-term pays off what you owe plus closing costs. Cash-out goes further and lets you pull equity, up to 75% LTV, but it usually carries a larger balance and a higher payment, and seasoning rules vary by program. If the goal is a lower payment or a longer term, rate-and-term is often the cleaner file.
Because New Jersey taxes already take a large share of rent, most Camden County investors find rate-and-term keeps the ratio healthier than cash-out.
Most delays come from missing paperwork. Gather these before the appraisal is ordered.
Request a quote with the property address, the current payoff and the rent roll. LendingStreet works with investors refinancing in Camden, Gloucester and Burlington counties in South Jersey, checks the ratio on realistic taxes and insurance and lays out 2-3 options, including sub-1.0 DSCR programs where they fit. Our investor loans are business-purpose loans on non-owner-occupied property. See the New Jersey rate-and-term refinance page for state-level detail, or call (877) 298-1001.
They are among the highest in the country and count in the monthly payment, so they lower the ratio more than in most states.
Many South Jersey towns require one at each tenant change. Check your municipality's rules.
No. New Jersey's realty transfer fee applies to sales.
If the loan is at least $150,000. Many single rowhomes are smaller, so investors often refinance several in a blanket portfolio loan.
The minimum credit score is 620. Stronger credit and lower leverage can open more program options.
You have choices. You can bring cash to lower the balance, or look at sub-1.0 DSCR programs that accept a ratio below the 1.0x standard minimum.
Up to 80% LTV on some programs. Max LTV can be lower on 5-8 unit properties and larger balances, so it varies by program.
No. Our investor loans are business-purpose loans on non-owner-occupied property, so the home must be a rental, not your residence.
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