New client, who resides in NY is looking to purchase a 2-family unit in Temple, TX. The purchase price is equal to the appraised as-is value of $230K. Property comes with tenants in place for both units for a total of $2,050/month. Sponsor has good credit and liquidity to close this deal. Loan is structured at 75% LTV presenting 1.13 DSCR.
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