Help

You can purchase a new apartment building for 1,800,900. The bank has quoted an 80% LTV, and a 1.30 DCR (Debt Coverage Ratio). The loan would be amortized for 30 years, the annual interest rate is 3.75%. The annual NOI is $100,000 Determine the maximum amount of the loan based on the DCR 1,800,000 O 1,440,000 O 1,386,000 O 144,000