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Brockton MA DSCR Rental Loan

Address: Brockton, Massachusetts
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $333,000
Appraised Value: $875,000
Loan Amount: $227,250
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 2.89
Knoxville Hard Money Lender
Knoxville DSCR Loan
Situation:

Asset Based Lending recently funded a DSCR rental loan with a first-time borrower and experienced real estate investor. The property was purchased for $333,000 with a loan amount of $227,250 and an appraised value of $875,000. As of Q1 2024, 43% of the households in Brockton, Massachusetts are renter-occupied, making this a worthwhile investment for the borrower. With a DSCR of 2.89, this property will generate positive cashflow and monthly income for the investor.