Take A Look at This Property in Alexandria, IN!

Borrower is new client under contract to purchase the subject property located in Alexandria, IN to hold for long term rental income. Subject is an SFR currently leased for $1,100 per month which is above the market rates per the appraiser's estimate ($900). Subject appraised for $120k As-Is and a CDA confirmed the value was acceptable. Sponsor on the loan with Excellent credit with a mid-score of 753; Bank statements reflect sufficient liquidity to meet the reserve requirement. Total loan amount 73.7% LTV & 75% LTC with 1.34 of DSCR.