DSCR loan calculator for Plainfield, NJ
Starts from local data for Plainfield, NJ (ZIP 07060): a 3-bedroom rent of $2,128 a month (range $2,128–$2,785), the Union County property tax rate of 1.89% and the 7.24% 30-year mortgage rate. Every value stays editable.
DSCR
1.14
Below a 1.25 minimum: lower the loan or raise the rent.
Max loan
$205,945
Min. down payment
$94,055
Payment (P&I)
$1,573
NOI (monthly)
$1,800
Rent ÷ PITIA
1.24
LTV
75.0%
- Max loan by DSCR
- $205,945
- Max loan by LTV
- $240,000
- Max payment at min. DSCR
- $1,440
- PITIA / mo
- $2,023
- Operating expenses / mo
- $575.00
How this is calculated
- 1Collected rent = rent × (1 − vacancy %).
- 2Operating expenses = property tax ÷ 12 + insurance ÷ 12 + HOA + other + management % of collected rent + maintenance % of rent.
- 3NOI = collected rent − operating expenses. DSCR = NOI ÷ monthly principal and interest.
- 4Max loan by DSCR: the highest payment the NOI covers is NOI ÷ minimum DSCR; the loan that payment repays over the term at the rate is the limit. Max loan by LTV = price × max LTV %. The max loan is the smaller of the two.
- 5Rent ÷ PITIA = gross rent ÷ (P&I + tax + insurance + HOA), the simpler ratio many lenders quote.
Lenders differ: some use gross rent ÷ PITIA, some NOI ÷ debt service, and most add credit-score, reserve and minimum-loan rules. Interest-only loans and prepayment penalties aren't modeled.
Frequently asked questions
- What rent should I use for a 3-bedroom rental in Plainfield, NJ?
- In ZIP 07060 the typical figure is $2,128 a month ($2,128–$2,785); across Plainfield's 4 ZIP codes it's $1,931–$2,785, with a median of $2,146. Check listings for the specific property.
- What is the property tax rate in Plainfield, NJ?
- Owner-occupied homes in Union County pay a typical 1.89% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.