What the numbers say
Investors in New Jersey borrowed at a median rate of 7.625%, versus 6.625% for owner-occupants — a 100 bps premium that ranks 20th of 51 states.
Their applications were denied 18.5% of the time. The leading reasons for denial were collateral, debt-to-income ratio, credit history.
79% of investor loans were business- or commercial-purpose — the category that includes DSCR and LLC-held loans — and 23% were cash-out refinances. The typical loan-to-value was 74%, implying about 26% down.