A property has an expected first-year NOI of $1 million. Recent sales of similar properties indicate that a first-year (or going-in) cap rate of 12% is reasonable for valuation purposes. A lender requires a minimum DSCR of 1.25x and will loan up to 75% of appraised value on a first mortgage. Say the mortgage interest rate is 6.75%, payments are monthly, and the amortization period is 20 years. (10 points) Hint: solve for the debt service. What is the implied loan size using the DSCR criteria? What is the implied loan size using the LTV criteria? Based on your response to the previous question(s): What is the maximum-sized loan a risk-adverse lender will advance? (5 points) O The loan amount based on the DSCR criteria. The loan amount based on the LTV criteria