For borrowers with rent-ready properties that have been owned for more than 12 months, do not have deferred maintenance, and are looking for cash out (value based underwrite)
- Max LTC
- Max LTV
- Cash Out Allowed
- Minimum DSCR
Minimum in place DSCR of 1.00x based on IO bridge loan payment.
Minimum exit DSCR of 1.20x based on 30yr FRM and current lender rate + 50 bp