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Katy, Texas DSCR Rental Loan

Address: Katy, Texas
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $175,000
Appraised Value: $521,000
Loan Amount: $307,390
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.00
Texas rental property
New Jersey Rental Loan
Situation:

Asset Based Lending recently funded a DSCR rental loan for a new borrower and real estate investor in Katy, Texas. The property was purchased for $175,000 with a loan amount of $37,390 and an appraised amount of $521,000. This 5-bedroom 3.5-bathroom property has a total living area of 3,600 square feet. Katy, Texas is located just 30 miles west of Houston and has the charm of a small town with many conveniences of a big city. With a healthy labor market and great public schools, this property is a great investment for the borrower’s rental portfolio. With a DSCR of 1.00 this investment opportunity provides the borrower stability and potential growth in the thriving Katy, Texas real estate market.