Hard Money/Private Money Needed New Jersey


I bought a house in cash in North Jersey ($37K) and need $30K for rehab funds. After repair value is approx $150K. Does anyone know a hard money/private lender that will release a loan at this amount?

Credit score is over 730. Any help would be appreciated.



Your kind of attacking this backwards, as you should line up the hard money on the purchase of the property and use your cash for down payment, construction (Rehab) cost's and overhead and carrying cost's.

If you put hard money in on your purchase with let’s say 30% down and HML carrying 70% you would know where your rehab financing is because you would still have cash in your pocket!

Now that you own the property your stuck because if you can not find financing and you have no more additional money, your stuck with a property you may or may not get $37k out of if you have to dump it (Polite Wording is Sell this Masterpiece!) to get your money back.

Now if ARV is actually $150k you might get a lender to loan you what your seeking and they will dispurse it in draws against the construction. You still would be better in the future to work out financing before you purchase!

The new lender will obviously want to be in 1st position on the property and make sure you figure your hard and soft cost’s acurately, and make sure your $150k ARV (FMV) is correct and on the conservative side as there is nothing like showing your inexperience by over estimating your expected sale price, which is then an indication your construction budget and critical path schedule is inaccurate!

You might try “RookieNYC” on this site, he makes HML in that area I think, maybe he would be willing to look at this, but I am sure there will be some points and probable a hard money interest rate if he is willing to do it!

Good luck,


I dont lend on ARV…Also the loan is too small…I dont lend on rehabs…Also being a private lender I can say this…A 37k house in NJ is in a type of area I choose not to lend in…Sorry I cant be any help…

We have seen a considerable increase in hard money applications for NJ properties. I would personally stay away from this unstable market.

With this kind of FICO, you should be able to secure conventional funding.