Borrower is an experienced investor under contract to acquire the subject property located in Athens, AL for $305k with intentions of holding it for long-term rental income. Subject property is an SFR which is currently vacant with an appraiser’s estimated market rent of $2,000/month. Both the Sponsors on loan are Foreign National Residents and bank statements reflect sufficient liquidity to close the deal. Loan structured and priced in accordance with the qualification model. Total loan amount 50% LTC & 48.4% LTV with 1.47 of DSCR.
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