DSCR Rental
Posted 5h agoDSCR rental refinance, land in Phoenix
$420,000
Location
Phoenix, AZ 85004
Target rate
12.35%
Term
2 yr
Property type
Land
Property & underwriting
- Occupancy
- Non-owner occupied
- Lien position
- Second lien
- As-is value
- $609,000
- LTV (as-is)
- 69.0%
- Purchase price
- $547,000
- After-repair value
- $865,000
- Loan-to-ARV
- 48.6%
- Rehab budget
- $43,000
- Exit strategy
- Sell at completion
- Borrower experience
- 2-5 deals completed
- Credit score range
- 800+
- Borrowing entity
- Limited Partnership
- Funding timeline
- 45-60 days
- Additional collateral
- Land at Phoenix, AZ
Use of funds
Bridge to permanent financing
Deal summary
Purchase on a land in Phoenix, AZ. Borrower is seeking $420,000 at up to 12.35% for 24 months. Sell at completion.