North Jersey · County seat: Paterson
Investment Property Loans in Passaic County, NJ
Multifamily, DSCR, Bridge and other business-purpose loans for investors across Passaic County, including the county seat, Paterson.
Investing in Passaic County
Passaic County runs from the dense cities of Paterson, Passaic and Clifton in the south to the lakes and Highlands of West Milford in the north. Its seat is Paterson, home of the Great Falls of the Passaic River and Paterson Great Falls National Historical Park. I-80, Route 46, the Garden State Parkway and NJ Transit's Main Line serve the southern end.
In the southern cities, much of the housing is older two-, three- and four-family homes and multifamily buildings, which makes them strong markets for DSCR, multifamily and value-add bridge financing. Wayne and the northern townships are mostly single-family.
How we lend here
Older buildings often need system upgrades, so renovation budgets and the property's condition get close attention. We also confirm the municipality's rental registration and inspection requirements.
Towns we lend in: Paterson, Clifton, Passaic, Wayne, West Milford, Little Falls, Totowa, Haledon and Woodland Park.
Loans that fit Passaic County properties
Acquisition, value-add bridge and construction financing for 5+ unit apartment buildings.
30-year rental loans for purchases and refinances that qualify on the property's rent instead of your personal income.
Short-term financing to close fast, reposition or lease up a property before long-term financing.
We also offer fix and flip loans, mixed-use loans, construction loans, LLC loans in Passaic County.
Town guides in Passaic County
Before you close in Passaic County
Check these with the municipality and your attorney before you close on a rental or rehab in Passaic County.
- Landlord registration. File a landlord registration statement with the municipal clerk for 1–2 unit properties, or with the NJ Department of Community Affairs for most buildings with 3 or more units.
- Certificate of occupancy. Many towns require a CO or continued CO inspection when a property sells or a new tenant moves in. Ask the town before you set a closing or lease date.
- Lead-safe certification. Under P.L. 2021, c.182, many rentals built before 1978 need a lead-based paint inspection at tenant turnover or on the state's schedule.
- Flood zone and insurance. Check the FEMA flood map. If the property is in a special flood hazard area, include flood insurance in the payment.
- Entity in good standing. Keep your LLC's annual report current with the NJ Division of Revenue and Enterprise Services so title can insure the closing.
General information, not legal advice. Requirements vary by municipality.
Passaic County investor loan FAQ
Can I finance a 5+ unit building in Passaic County?
Yes. Buildings with five or more units are financed through our multifamily programs, using the rent roll, leases and operating expenses.
Do you lend to LLCs buying property in Passaic County?
Yes. Every Lendiqo loan in Passaic County is a business-purpose loan to an LLC or other entity on non-owner-occupied investment property. Members usually sign a personal guarantee.
Can I refinance a renovated Passaic County property into a long-term loan?
Yes. Once the renovation is finished and the property is leased, a 30-year DSCR loan can pay off the short-term loan. It qualifies on the rent, not your personal income.
Financing a property in Passaic County?
Send the basics on a property and a loan officer will follow up. You'll hear back from a person, not a call center.