Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NOI = $465,000 Value = $4,650,000.00 Your friend is a mortgage broker with a Fannie Mae License. He/She has indicated that Fannie will give you

NOI = $465,000

Value = $4,650,000.00

Your friend is a mortgage broker with a Fannie Mae License. He/She has indicated that Fannie will give you a loan the lesser of 80% or 1.25 DSCR constrained. The interest rate for the Fannie loan will be 5% and have a 30 year amortization. Based on that, what is the amount of the loan you think you can get from Fannie. Show your work/methodology for sizing both of these loans.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Theory And Practice

Authors: Eugene F. Brigham, Michael C. Ehrhardt

10th Edition

0030329922, 9780030329920

More Books

Students also viewed these Finance questions