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If the owner of the property wants to refinance the balloon for 10 more years at the loan maturity using a 6% interest-only loan, what
If the owner of the property wants to refinance the balloon for 10 more years at the loan maturity using a 6% interest-only loan, what will be the DSCR and LTV on that loan if NOI and the property value remain unchanged?
NOI=805,232.43
DSCR: 1.25
Original LTV:75%
Property value= 13,333,333.333
Loan; 10,000,000
rate(monthly): 5%,
amortization period: 30
Loan maturity: 10 years(balloon due at the end of 10 years)
Maturity Date; 10 years
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