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A property is appraised for $1,000,000 and has a annual net operating income of $80,000. A lender has BOTH a 75% maximum Loan to Value
A property is appraised for $1,000,000 and has a annual net operating income of $80,000. A lender has BOTH a 75% maximum Loan to Value ratio and a minimum debt service coverage ratio of 1.20 requirements in underwriting loan proceeds. The lender is offering a 5% fixed interest rate with a twenty five year amortization schedule.
What is the maximum loan amount you could get on the property based on BOTH the above maximum LTV and Min DSCR underwriting requirements and information?
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