Buildings of five to ten units
Buy or refinance a small apartment building on its rent; the building is valued like a small commercial property.
New Jersey
Five to ten unit and mixed-use loans in New Jersey
A five to ten unit loan is a business-purpose loan on a residential building of five to ten units, or a mixed-use building of two to eight units that is mainly residential, based on the rent the building brings in rather than your personal income. We offer them on New Jersey buildings.
- Direct, licensed mortgage lender
- NMLS #103098
- Equal Housing Lender
Start your building loan
Read what the programs ask for, then talk it through.
Fidelity Residential · NMLS #103098 · Equal Housing Lender
Local lender
Why work with a New Jersey lender
Fidelity Residential is a direct mortgage lender licensed in New Jersey under a Residential Mortgage Lender License. Our New Jersey office is at 121 NJ-36, Suite 230, West Long Branch, and our licensed branch is at 1 Yorktowne Drive, Manalapan (branch NMLS ID #2103558).
A licensed loan officer compares the programs for your building and tells you, before you sign a contract, what the appraisal and the rent roll need to show.
The basics
How a loan on a five to ten unit building works
The lender compares the building’s total rent with its full monthly payment, including taxes, insurance and any association dues, and the rent must cover the payment by the margin the program sets. No tax returns or pay stubs; credit, assets, experience and the appraisal are still checked.
The rent is counted carefully: vacancies are limited, most programs take off any management fee the appraiser shows, and short-term rental income is not counted on these buildings. The appraiser inspects every unit and reports the rent roll.
New Jersey has the smallest share of empty rental homes among the 40 states and the District of Columbia where we are licensed: about 3.5 of every 100 rental homes stood empty and for rent, against about 5.5 nationally (U.S. Census Bureau, American Community Survey 2020-2024). See the state table.
Properties
What these loans finance
Each program sets its own rules for the building.
Mixed-use buildings of two to eight units
Buildings with homes and a shop, office or restaurant, mainly residential; your own business may occupy a commercial unit.
Buy, refinance or take cash out
Buy a building, refinance to change the loan, or take cash out of a building you own for business purposes.
Business purpose investor loans are for investment property only. Nobody on the loan may live in the building.
Questions
Questions from New Jersey building owners
Do you offer five to ten unit and mixed-use loans in New Jersey?
Yes. Fidelity Residential is a dba of PFN Lending Group, Inc. (NMLS #103098), which holds a New Jersey Residential Mortgage Lender License. You can check it on NMLS Consumer Access (opens in a new tab).
Where are you located?
Our office is at 121 NJ-36, Suite 230, West Long Branch, NJ 07764, and our licensed branch is at 1 Yorktowne Drive, Manalapan, NJ 07726. Call 732-686-9999 to talk with a licensed loan officer.
Do I need landlord experience?
A recent record of owning and managing rental property is usually required.
Can my family live in one of the units?
No. Nobody on the loan may live in the building; you sign business-purpose and occupancy statements, and the owners back the loan personally.
How long does a five to ten unit loan take to close?
Often about three to four weeks once the file is complete; the appraisal of every unit and a second valuation set the pace.
Have a New Jersey building in mind?
Request a quote online, or call and go through the rent roll with a licensed loan officer.
Business purpose investor loans are for investment property only. This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, property and underwriting review and are subject to change without notice.
Reviewed by Robert Shamie, CEO, NMLS #241428 · Last reviewed:
Fidelity Residential (PFN Lending Group, Inc., NMLS #103098) is a direct mortgage lender licensed in 40 states and the District of Columbia, with 26 years in business.