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A developer wants to finance a project costing $17million with a 70%, 25 year loan at an interest rate of 89. Mortgage payments are made
A developer wants to finance a project costing $17million with a 70%, 25 year loan at an interest rate of 89. Mortgage payments are made monthly. The project's NOI I expected to be $130,000 during year and the NOI, as well as its value is expected to increase at an annual rate of 3% thereafter. If the lender requires an initial DCR-130, what would be the loan to value ratio? 0.72% 0.709 0.64%
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